Blogs

Consistent with our prior reports (see, e.g., “Reduced Diversity/DE&I Cites on Earnings Calls”), Bloomberg reported that of 82 Form 10-Ks reviewed, about 20% of companies either tweaked or removed their DEI-related language compared to their two previous filings, seemingly to mitigate litigation risk and to reflect associated risk-mitigating changes in practices following the Supreme Court’s college admissions affirmative action decisions, rather than as a result of a shift in their commitments to diversity. The article summarizes the changes that 19 companies made to their Form 10-K text and companies’ responses (if any) to Bloomberg’s requests for comment. 

Members who don’t have access to the article and are interested in reading it, please contact Randi Morrison.

See our recent reports: “Companies Reevaluating DE&I Practices in Response to Litigation Risk” and “Companies Generally Standing Firm on DE&I Programs” and this article: “Wall Street’s DEI Retreat Has Officially Begun” (Bloomberg).

                                   This post first appeared in the weekly Society Alert!