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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.”
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 ]
In addition, the company was planning to expand its ethics and compliance team to continue to oversee issues in these areas in the future. [ 64 ] In late October 2021, Kotick announced the company was taking several measures related to issues from the lawsuit, acknowledging that "The guardrails weren't in place everywhere to ensure that our ...
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.
Others have claimed it is a civil liberties issue, and some have pointed to equity issues related to not having equal access to appropriate technology or the internet. Companies navigate ethical ...
In June 2006, Walmart was excluded from the investment portfolio of The Government Pension Fund of Norway, which held stock values of about $430 million in the company, due to a social audit into alleged labor rights violations in Walmart operations in the United States, Canada, Latin America, Africa, and Asia. [189]
By Steven Brill Letter From the Editors Backstage at Johnson & Johnson. On May 20, about 100 stock analysts gathered in the ballroom of the Hyatt Regency Hotel in New Brunswick, New Jersey, to hear good news from top executives at Johnson & Johnson: The company had 10 new drugs in the pipeline that might achieve more than a billion dollars in annual sales.