Diversity-related lawsuits pile more pressure on D&O market

22 Sep 2020

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).

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Disclaimer: This document does not present a complete or comprehensive statement of the law, nor does it constitute legal advice. It is intended only to highlight issues that may be of interest to clients of BLM. Specialist legal advice should always be sought in any particular case.

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Alexander Traill

Alexander Traill

Partner,
London


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