Jones on Thursday recommended Norfolk Southern shareholders elect all seven of hedge fund Ancora Holdings' proposed director candidates to the railway's 13-member board and replace its chief executive officer at next week's election.

ESG-focused investors and union pension plans should back Norfolk Southern activist Ancora and its CEO pick Jim Barber, Institutional Shareholder Services said on Thursday. The vote of support, different from the earlier ISS and Glass Lewis endorsements,

Hedge fund Ancora Holdings signed a labor pact with a Teamsters division, but the rail company says it violates the Railway Labor Act.