Investors Say 'Us Too' In Wake Of Sexual Misconduct Claims
Law360 (February 1, 2019, 4:54 PM EST) -- Reports of sexual assaults by the former CEO of Wynn Resorts Ltd., inappropriate advances by the past head of CBS Corp. and sexist remarks overseen by the founder of Papa John's International Inc. all have one alleged victim in common: company shareholders.
During the past year, investors have filed lawsuits involving sexual misconduct allegations against the boards of major companies including Lululemon Athletica Inc., Nike Inc. and Google parent Alphabet Inc. These lawsuits typically allege companies inflated their share price by concealing the alleged misconduct or accuse companies' boards of shirking their oversight responsibilities.
Though critics say shareholder litigation is the...
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