Credit: pressmaster/Adobe Stock Shareholder Proposals Put Tech Firms on Human Rights Hot Seat
At the same time, activists also are advocating for reforms on core business issues, such as executive pay and stock structures that give insiders outsized voting rights.
April 27, 2023 at 10:14 AM
6 minute read
Corporate Governance
To the extent Amazon.com is a bellwether of activist priorities, look for more shareholder proposals at tech companies in the coming months and years involving human rights.
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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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