ESG Controversy Top Movers

Week ending June 25th, 2023

In this week's report:

  • 3M to pay up to $12.5 billion to settle water contamination lawsuits;
  • Telegram and Viber fined in Russia over Ukraine war related content;
  • Issues for Amazon: FTC eyes unauthorized Prime enrollments, while EU launches antitrust probe into the iRobot acquisition, and
  • Starbucks workers went on strike over Pride decorations ban.
Company
Category
Momentum
Event
Grab Holdings Ltd.

layoffs

Grab, Southeast Asia's leading ride-hailing and food delivery app, is cutting 1,000 jobs - amounting to 11% of its workforce.
Canada Bread Co. Ltd.

price-fixing-fine-target

Canada Bread fined $50M for price-fixing scandal, after admitting to collusion with rivals.
Nissan Motor Co. Ltd.

legal-issues-defendant

Former Nissan Chairman Carlos Ghosn files $1 billion lawsuit in Lebanon against Nissan over his imprisonment in Japan.
Amazon.com Inc.

legal-issues-defendant

The Federal Trade Commission targets Amazon for unauthorized Prime enrollment and efforts to avoid cancellations.
Viber Media Inc.

sanctions-target

Moscow court fines Telegram and Viber for not complying with requests to delete content that the Russian government deems illegal, including Ukraine war content.
iRobot Corp.

antitrust-investigation

EU launches antitrust probe into Amazon's $1.7B iRobot acquisition.
Starbucks Corp.

strike

3,000 workers at over 150 Starbucks stores to strike in the US, following claims the company had banned Pride Month decorations.
Criteo S.A.

sanctions-target

Adtech giant Criteo hit with €40M fine by French data privacy watchdog over GDPR breaches
3M Co.

sanctions-target

US industrial conglomerate 3M to pay $12.5 billion to settle lawsuits over water contamination.
Axel Springer SE

layoffs

German media giant Axel Springer is laying off 20% of newsroom jobs.

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.

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