Investor Calls for Accountability at Dollar Tree

SACRAMENTO, Calif. -- Chesapeake, Va.-based retailer Dollar Tree Stores was one of 11 underperforming companies named to the annual Focus List from the California Public Employees Retirement System (CalPERS). Food industry giant Sara Lee and drug company Eli Lilly also made the list, which highlights financial and corporate governance shortcomings in companies invested in by the influential retirement fund. CalPERS cited Dollar Tree for underperforming its peer group over one-, three- and five-year periods, and for refusing to remove a “staggered” board structure that limits shareholder rights, according to CalPERS, which owns a 0.8% share of Dollar Tree.