Three weeks after the Securities and Exchange Commission officially declined the no-action request of Fidelity Investments of Boston, leaders of activist group Investors Against Genocide are feeling victorious. But they still know they haven't won the war to drive through their shareholder-driven proxy proposal.

Despite the battle victory, the shareholder activist group isn't expecting to immediately win the wholehearted support of Fidelity investors. Yet it has promised to continue fighting.

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