Tag: DEI

Firms From KKR to Coors Flag DEI as a Risk to Their Bottom Lines

JetBlue Airways Corp., Molson Coors Beverage Co., and Leidos Holdings, Inc. are part of a growing group of companies listing DEI as a “risk factor” in their securities filings, citing a potential business impact from taking too much or too little action on diversity. The flurry of securities filings noting potential legal and reputation risks stemming from diversity, equity and…

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Target Case Charts Path for ‘Go Woke, Go Broke’ Securities Suits

Conservative legal groups have launched a wave of challenges to corporate DEI initiatives, going after McDonald’s Corp., Kellogg Co., and Progressive Corp., among many others. The legal arguments in those instances have often focused on discrimination laws. AFL charted a different course by accusing Target of securities fraud. The case has serious problems, securities scholars and lawyers say. But it…

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DEI Initiatives Face Increased Scrutiny | The D&O Diary

As I have noted in recent posts on this site, the developing trend toward anti-ESG litigation has targeted, among other corporate initiatives, company adoption of diversity, equity and inclusion (DEI) programs. These and other developments have encouraged some companies to soft-pedal their initiatives in this and other areas, a phenomenon that has been described as “greenhushing.” But as noted in…

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Business Is Caught in a Diversity Trap – WSJ

Big corporations are caught in a pincer. Earlier this month, 13 Republican state Attorneys General sent a letter to Fortune 100 companies, warning that their diversity, equity and inclusion (DEI) hiring practices might be illegal. Now 21 Democratic AGs are telling the same CEOs that such policies are above board and should be expanded. “We write to reassure you that…

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Speech by SEC Commissioner Jaime Lizárraga: Raising the Bar on Diversity, Equity and Inclusion

AMAC, in its report, also cited an eye-opening 2017 statistic from the Government Accountability Office – the auditing arm of Congress: less than 1 percent of global assets under management, then $70 trillion, was managed by women- and minority-owned asset management firms. *** To help move the needle on that 1 percent diversity statistic, we must do more. I strongly…

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Companies That Really Want to Do Some Good Should Unbundle ‘ESG’ and ‘DEI’ – Bloomberg

Both ESG and DEI have generated massive industries. Investment giants, notably BlackRock Inc., State Street Corp. and Vanguard Group Inc., claim that more than a third of their assets, or $35 trillion, are monitored through one ESG lens or other. Every Fortune 100 company and most Fortune 500 companies have adopted DEI programs. Walmart has committed $100 million to its…

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