The Municipality as Shareholder: Securities Litigation in the Age of Fiscal and Social Responsibility
Securities litigation is often viewed as benefiting individual shareholders who have been harmed due to misstatements, omissions, negligence, or intentional acts of public companies. But the reality is that millions of others participate in the capital markets as employees of municipalities and local government subdivisions—counties, cities, townships, school districts, fire and police departments and more—who act on behalf of these workers as shareholders in publicly traded entities through pension plans, risk management pools and similar vehicles. This presentation will discuss how these entities can add and have added their influence to obtain recourse for corporate wrongdoing and to effect socially responsible change in corporate policies in areas ranging from gender and race discrimination, systemic racial and gender inequality, Covid, the opioid epidemic, environmental wrongdoing, money laundering and more.
Speaker: Joshua H. Grabar & Seth D. Rigrodsky