ESG Top Movers

Week ending February 19th, 2023

In this week’s report: the U.S. Securities and Exchange Commission cracks down on crypto; China imposes sanctions on two American defense companies, and one of the Big Four firms cuts staff as the economy slows.

It's often difficult to follow all the news to build a complete picture about a company, particularly when events are less reported. Yet published research has identified how selecting stocks and bonds with low controversy profile captures more alpha and lowers risk.

Leveraging local and global newswire coverage, the RavenPack controversy framework allows investors to identify companies involved in controversial events. Each week we publish a selection of controversy identified on a different universe.

Company
Category
Momentum
Event
Paxos Trust Co. LLC

legal-issues-defendant

Crypto Firm Paxos faces a potential lawsuit from the U.S. Securities and Exchange Commission.
Lockheed Martin Corp. & Raytheon Technologies Corp.

sanctions-target

China imposes trade and investment sanctions on Lockheed Martin and a unit of Raytheon for supplying weapons to Taiwan.
Terraform Labs Pte. Ltd.

fraud-defendant

The Securities and Exchange Commission charges crypto company Terra founder Do Kwon with fraud.
Twilio Inc.

layoffs

Customer engagement platform Twilio to lay off about 1,500 employees, 17% of its workforce.
KPMG International Ltd.

layoffs

New York-based KPMG U.S. is laying off 700 advisory staff, close to 2% of its total workforce.
Soligenix Inc.

regulatory-product-approval-denied

Soligenix receives refusal letter from FDA for new drug application in the treatment of cutaneous T-Cell lymphoma.
Packers Sanitation Services Inc.

sanctions-target

Food safety sanitation company Packers has paid $1.5 million in civil penalties after it illegally employed children in hazardous jobs.
Fox Corp.

fraud-defendant

Dominion Voting Systems brings a $1.6 billion defamation lawsuit against Fox News over election fraud claims.
Grifols S.A.

layoffs

Drugmaker Grifols announces it is letting go 2300 people.
Kornit Digital Ltd.

legal-issues-defendant

Securities class action lawsuit has been filed against manufacturing company Kornit Digital ltd.

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