New York City pension funds sue AT&T over exclusion of diversity disclosure proposal
NYC pension funds sued AT&T on Tuesday for blocking a vote on workforce diversity disclosures. They argue the firm is using new SEC rules to avoid disclosure.
洞察:
Four New York City public pension funds filed a lawsuit in Manhattan federal court on Tuesday, accusing AT&T Inc. of improperly refusing to allow a shareholder vote on a proposal regarding workforce diversity disclosure. The legal action, initiated in the United States 
US, seeks to prevent AT&T from soliciting shareholder proxies that omit the proposal. The plaintiffs include the New York City Employees Retirement System and other New York City public pension funds representing police, teachers and other educational employees.
US, seeks to prevent AT&T from soliciting shareholder proxies that omit the proposal. The plaintiffs include the New York City Employees Retirement System and other New York City public pension funds representing police, teachers and other educational employees.The dispute centers on a shareholder proposal that would require AT&T to disclose the racial, ethnic and gender breakdown of its 133,000-person workforce. This information is typically collected for the U.S. Equal Employment Opportunity Commission, and the pension funds argue that such transparency is vital for shareholder oversight. According to the filing, AT&T had previously disclosed these workforce demographics through 2023 but stopped doing so in 2024.
