ESG Controversy Top Movers
Week ending August 27th, 2023
In this week's report:
Elon Musk's SpaceX sued for alleged discrimination against refugees and people granted asylum;
Teva Pharmaceuticals and Glenmark Pharmaceuticals to pay more than $250 million in fines for price-fixing;
T-Mobile, Charles Schwab and Dick’s Sporting Goods among companies making significant job cuts, and
Juul Labs sued by rivals for e-vapor patent infringement.
Space Exploration Technologies Corp.
SpaceX, the rocket company founded by Elon Musk, has been sued by the US for alleged hiring discrimination against refugees and people granted asylum.
T-Mobile plans to cut 5,000 jobs, or 7% of its workforce.
Teva Pharmaceutical Industries Ltd.
Israeli drugmaker Teva Pharmaceuticals will pay $225 million in fines over five years, settling with the US Department of Justice for price-fixing charges.
The Charles Schwab Corp.
Financial services firm Charles Schwab will trim jobs and shut down or downsize offices to lower operating costs by at least $500 million.
Glenmark Pharmaceuticals Ltd.
Glenmark Pharmaceuticals will pay $30 million to resolve charges alleging that it conspired with Teva to fix prices for a cholesterol drug.
Australian airline Qantas is facing a class action lawsuit over its refund policy for flights cancelled during the pandemic.
Juul Labs Inc.
Juul Labs, an American electronic cigarette company, is being sued by rivals Njoy and Altria over e-vapor patent infringement.
Dick's Sporting Goods Inc.
Dick’s Sporting Goods has laid off about 250 employees from its corporate workforce.
Whirlpool was fined $11.5 million over hazardous cooktops.
Gannett, a top US newspaper publisher, has been sued for alleged white worker discrimination amid efforts to diversify newsrooms.
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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.