9:00 AM - 5:00 PM

Our Hours Mon. - Fri.

310.774.1437

Call Us For Free Consultation

Facebook

Twitter

The Gap Hit With Investor Suit Over Lack Of Board Diversity

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > The Gap Hit With Investor Suit Over Lack Of Board Diversity

The Gap Hit With Investor Suit Over Lack Of Board Diversity

Law360 (September 2, 2020, 8:15 PM EDT) — The Gap has dropped the ball on fostering diversity at the company’s highest levels, publicly claiming to be dedicated to racial equality while in reality having an overwhelmingly white board of directors, a Gap investor told a California federal court Tuesday.

In fact, the retailer’s 14-member board doesn’t have a single Black or Latino director, Canadian shareholder Noelle Lee said in a lengthy, 91-page complaint. Lee slapped Gap Inc.’s top brass with a derivative action alleging that the directors and top executives have repeatedly deceived stockholders and the market by making false statements about the company’s commitment to diversity.

On its…

Call Now ButtonCall For Free Consultation