AT&T Sued By New York City Pension Funds For Excluding Shareholder Vote On Workforce Diversity Data: Report
Synopsis
According to a Reuters report, a filing with the Manhattan federal court said that AT&T had refused the shareholder vote that would have required it to reveal the race, ethnicity and gender composition of its workforce.
AT&T Inc. (T) is reportedly facing lawsuits from four New York City public pension funds on the grounds of blocking shareholders from voting on a proposal to disclose its workforce composition.
According to a report from Reuters, a filing with the Manhattan federal court said that AT&T had refused the vote that would have required the company to reveal the race, ethnicity and gender composition of its 133,000-person workforce.
AT&T had reportedly cited a policy change from the U.S. Securities and Exchange Commission (SEC) from November, which allowed companies on a "reasonable basis" to reject shareholder proposals. The funds claimed that the SEC regulations were not an excuse for the telecommunications company to block the vote.
Shares of T were up 0.3% at the time of writing.
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