Another Federal Judge Tosses An Investor Suit Over Diversity

By Dean Seal (September 1, 2021, 9:42 PM EDT) -- A Miami federal judge on Tuesday became the latest in the federal judiciary to dismiss a shareholder derivative suit against a public company — in this case, Opko Health Inc. — claiming that it is falling short on its commitments to diversify its leadership team.

Judge Cecilia M. Altonaga of the U.S. District Court for the Southern District of Florida ruled that the suit was "replete with conclusory allegations" that the biotech company's top brass and its billionaire chairman, Phillip Frost, violated anti-discrimination laws and Opko's own code of conduct by refusing to nominate Black or Latino members to its board...

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