The New York City Employees’ Retirement System and other city pension funds have filed a lawsuit against AT&T Inc., alleging the company violated securities law. The lawsuit claims AT&T declined to share information about its workforce demographics and excluded a related shareholder proposal from its proxy solicitation. This action highlights increasing investor demands for corporate transparency regarding workforce diversity, with New York City Comptroller Brad Lander stating, "We must not let corporations hide information about the diversity of their workforces from shareholders and the public.”
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NYC Pension Funds Sue AT&T Over Workforce Data Disclosure
The New York City Employees’ Retirement System and other city pension funds have filed a lawsuit against AT&T Inc., alleging the company violated securities law. The lawsuit claims AT&T declined to share information about its workforce demographics and excluded a related shareholder proposal from its proxy solicitation. This action highlights increasing investor demands for corporate transparency regarding workforce diversity, with New York City Comptroller Brad Lander stating, "We must not let corporations hide information about the diversity of their workforces from shareholders and the public.”