Over the last several months, the Black Lives Matter (BLM) movement has sparked a national dialogue about racial justice and equity. This national focus on race-related issues has created a new theory of liability in shareholder litigation, alleging that company directors can violate their duties to the company and shareholders by, among other things, failing to have a sufficiently racially diverse board. So far, several shareholder derivative actions alleging this theory have been filed. Although a number of these suits have targeted technology companies, including Cisco, NortonLifeLock, Facebook and Qualcomm, there also have been suits filed against companies from other industries, including The Gap and Monster Beverage Corp.