ESG Controversy Top Movers
Week ending August 6th, 2023
In this week's report:
Several companies are making notable workforce reductions: CVS Health, Telus, Yellow;
Taco Bell faces lawsuit claiming false advertising;
Warner Bros has apologized for 'Barbenheimer' tweets, and
Australian regulator takes eToro to court over high-risk trading products.
CVS is laying off about 5,000 employees in a cost-cutting effort.
Taco Bell is facing a class-action lawsuit for alleged false advertising.
Warner Bros. Entertainment Inc.
Warner Bros has apologized for ‘Barbenheimer’ tweets that sparked criticism in Japan.
Telus cuts 6,000 jobs after net income drops 61% in Q2.
Yellow Corp., one of the largest trucking companies in the United States, is headed for bankruptcy, putting 30,000 jobs at risk.
Apellis Pharmaceuticals Inc.
Apellis Pharmaceuticals, the global biopharmaceutical company, faces a shareholder class action lawsuit for violations of the Securities Exchange Act.
Aldeyra Therapeutics Inc.
A law firm has filed a class action lawsuit against Aldeyra Therapeutics alleging the company made misleading statements in their new drug application.
Eos Energy Enterprises Inc.
Eos Energy faces a class action lawsuit for violations of the Securities Exchange Act.
Belle Fourche Pipeline Company,
Bridger Pipeline LLC
Belle Fourche and Bridger Pipeline companies to pay $12.5 million in penalties, and improve compliance, after pipeline spills in Montana and North Dakota.
Australian Financial Watchdog takes eToro to court over high-risk trading products.
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.