Credit: Jon Anders Wiken/Adobe Stock 'Massive Confusion': Legal Teams Vexed by Mishmash of ESG Reporting Frameworks
"The sooner we come through to one set of frameworks that companies should abide by and report on, on a global basis, the better for everyone," Parable general counsel Yasmin Zarabi said.
November 19, 2021 at 09:45 AM
5 minute read
Since companies began embracing ESG on a wide scale, the absence of a single, uniform set of standards for measuring corporate ESG efforts has often created headaches for legal departments.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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