November 16, 2022
In late 2020, Splunk Inc was the target of an investor-led lawsuit alleging securities fraud. In the aftermath of the scandal, the company valuation dropped significantly. Our news-based ESG Controversy Scoring Framework captured the various dimensions of this scandal.
On December 3rd, 2020, the American software company Splunk Inc was the target of a class-action lawsuit alleging securities fraud.
In the fiscal quarter of 2020, the plaintiffs claimed that Splunk Inc. failed to close deals with its largest customers and that the company was not meeting its previously stated financial targets. They also claimed that the management had made misleading statements and failed to disclose financially relevant information.
The company lost up to 45% of its value in the weeks following the scandal.
Our news-based ESG Controversy Framework captured the various dimensions of the Splunk scandal as follows:
It's often difficult to follow all the news to build a complete ESG picture about a company, particularly when events are less reported. Leveraging local and global newswire coverage, the RavenPack ESG controversy framework allows investors to identify companies involved in controversial events before the information reaches the mainstream media. Beyond controversies, RavenPack’s decades-long news archive is a unique source of sustainability signals.
Check out other ESG controversy case studies, to further learn how the RavenPack ESG Scoring Framework works. Or explore the tool and see for yourself how it can help you stay on top of ESG controversies impacting your brands or portfolios.
Please use your business email. If you don't have one, please email us at email@example.com.
By providing your personal information and submitting your details, you acknowledge that you have read, understood, and agreed to our Privacy Statement and you accept our Terms and Conditions. We will handle your personal information in compliance with our Privacy Statement. You can exercise your rights of access, rectification, erasure, restriction of processing, data portability, and objection by emailing us at firstname.lastname@example.org in accordance with the GDPRs. You also are agreeing to receive occasional updates and communications from RavenPack about resources, events, products, or services that may be of interest to you.
Your request has been recorded and a team member will be in touch soon.
RavenPack’s ESG Controversy Scoring Framework
is based on real-time detections of events across 40,000+ news sources in 13 different languages.
It follows an event-based approach that can help assess the extent of a firm’s ESG controversy exposure through time by monitoring real-time news coverage.