The momentum created by the Black Lives Matter movement is emerging as the latest factor driving shareholder litigation against major corporations.
A flurry of lawsuits has recently been filed in the US against major technology firms like Facebook, Oracle, Qualcomm and software firm NortonLifeLock, alleging the companies failed in their fiduciary duty by not hiring black board members. These have been followed by similar lawsuits against clothing retailer The Gap, amongst others.
Writing for Insurance Day magazine, BLM Partner Alex Traill and Lockton’s Michael Lea believe “the movement is gathering momentum across the world and it is possible similar directors’ and officers’ liability suits could also arise elsewhere…”
Click here to read the article in full in Insurance Day (subscription required).