ESG Controversy Top Movers

Week ending July 23rd, 2023

In this week's report:

  • Banking group NatWest is at the center of a media scandal in the UK, after it has closed the accounts of Nigel Farage, former UKIP party leader;
  • Deutsche Bank, Amazon, Apple, fined hundreds of millions over compliance issues;
  • Proterra, Danaher Corporation, Rain Oncology are facing class action lawsuits from investors, and
  • Chinese clothing maker Shein faces lawsuits over aggressive copyright infringement.
Company
Category
Momentum
Event
NWG NatWest Group PLC

apology

The CEO of the banking group NatWest apologised to Nigel Farage for “deeply inappropriate comments” that led to the closure of his accounts at the group’s exclusive private bank, Coutts.
DBK Deutsche Bank AG

money-laundering-fine-target

Deutsche Bank was fined $186 million by the Federal Reserve for "unsafe and unsound practices" concerning sanctions compliance and money-laundering controls.
PTRA Proterra Inc.

legal-issues-defendant

Proterra, an American automotive and energy storage company, faces a class action lawsuit over alleged misleading financial disclosures.
DHR Danaher Corp.

legal-issues-defendant

Law firm files class action against Danaher Corporation, a global conglomerate, for securities law violations.
ZoeTop Business Co. Ltd.

antitrust-suit-defendant

Chinese clothing maker Shein faces lawsuit over aggressive copyright infringement.
FibroGen Inc.

layoffs

Fibrogen, a biotech firm, will lay off 104 employees, almost a third of its U.S. staff.
PSM ProSiebenSat.1 Media SE

layoffs

ProSiebenSat.1, the German media group, will eliminate 400 full-time positions as part of its digital-focused strategy.
RAIN Rain Oncology Inc.

legal-issues-defendant

Rain Oncology Inc.faces class action lawsuit for alleged violations of federal securities laws related to the design of its Phase 3 MANTRA study and FDA approval statements.
AMZN, AAPL.O Amazon.com Inc., Apple Inc.

antitrust-fine-target

Spain's antitrust watchdog imposed fines worth 194.1 million euros on Amazon and Apple for colluding to restrict the number of Apple sellers on the Amazon website in Spain.
KELYA Kelly Services Inc.

layoffs

Specialty talent solutions provider Kelly Services has implemented a significant workforce reduction plan, without disclosing the number of employees affected.

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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