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After becoming a public company in August 2005, it was revealed that Phillip R. Bennett, the company's CEO and chairman, had concealed $430m of bad debts. Its underwriters were Credit Suisse First Boston, Goldman Sachs, and Bank of America Corp. The company entered Chapter 11 and Bennett was sentenced to 16 years in prison. Bear Stearns: United ...
Starbucks was sued for marketing its commitment to “100% ethical” sourcing while using some suppliers with “documented, severe human rights and labor abuses.”
According to The Wall Street Journal, the SEC told Tesla in May 2020 that the company had failed "to enforce these procedures and controls despite repeated violations by Mr. Musk". [17] A lawsuit filed in March 2021 alleges that Musk violated his fiduciary duty to Tesla by continuing to send "erratic" tweets in violation of the SEC settlement ...
Apple Inc. has been the subject of criticism and legal action. This includes its handling labor violations at its outsourced manufacturing hubs in China, its environmental impact of its supply chains, tax and monopoly practices, a lack of diversity and women in leadership in corporate and retail, various labor conditions (mishandling sexual misconduct complaints), and its response to worker ...
The U.S. Securities and Exchange Commission (SEC) announced that Robinhood Securities LLC and Robinhood Financial LLC will pay a combined $45 million in civil penalties to settle a series of ...
The growth of fast fashion fueled environmental issues. Fast fashion's meteoric rise is apparent in retail giants like Shein and Uniqlo, which both saw more than 20% revenue growth between 2022 ...
Taxi companies sued Uber in numerous American cities, alleging that Uber's policy of violating taxi regulations was a form of unfair competition or a violation of antitrust law. [7] Although some courts did find that Uber intentionally violated the taxi rules, Uber prevailed in every case, including the only case to proceed to trial. [8]
The biggest names, after all, have the greatest incentive (and the resources) to defend their reputations. Chikako Oka, a lecturer at Royal Holloway University, found that reputation-conscious companies had 35 percent fewer working violations in their Cambodian factories than did generic brands.