TELL ME MORE – Legal teams at tech companies this spring should brace for shareholder proposals demanding data on diversity, equity and inclusion at a more granular level than ever before, Law.com’s Greg Andrews reports. Whereas shareholders in recent years pressed companies to provide more employee demographic information, there likely will be an increase in proposals specifically targeting information in such areas as recruitment, retention and promotion rates of diverse populations, said Kilian Moote, managing director of the ESG Advisory at Georgeson. It’s a continuation of the 2022 proxy season, when “we saw more ambitious or nuanced questions related to social issues. In particular, diversity, equity and inclusion proposals continue to be a major focus and theme of those that are filing resolutions.”
ON THE RADAR – Weber Inc., an outdoor cooking products manufacturer and distributor, was sued Tuesday in Delaware Court of Chancery. The lawsuit, brought by Andrews & Springer and Wohl & Fruchter on behalf of Jonathan D. Abbott, seeks to inspect certain corporate books and records for potential mismanagement and breaches of fiduciary duty in connection with the proposed acquisition of Weber by its controlling stockholder and investment banker, Byron D. Trott, through his investment firm, BDT Capital Partners and its affiliates. Counsel have not yet appeared for the defendant. The case is 2023-0047, Jonathan D. Abbott v. Weber Inc. Stay up on the latest deals and litigation with the new Law.com Radar.
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