{"id":1659341,"date":"2022-09-27T05:05:01","date_gmt":"2022-09-27T09:05:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659341"},"modified":"2022-09-27T05:05:33","modified_gmt":"2022-09-27T09:05:33","slug":"shareholders-demand-pfizer-scrap-race-conscious-policies-in-the-wake-of-civil-rights-lawsuit","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/shareholders-demand-pfizer-scrap-race-conscious-policies-in-the-wake-of-civil-rights-lawsuit\/","title":{"rendered":"Shareholders Demand Pfizer Scrap Race-Conscious Policies in the Wake of Civil Rights Lawsuit"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fshareholders-demand-pfizer-scrap-race-conscious-policies-in-the-wake-of-civil-rights-lawsuit%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659341&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <a class=\"\" href=\"https:\/\/freebeacon.com\/latest-news\/\">Latest News<\/a> <\/p>\n<p class=\"article-excerpt\">Policies endanger company\u2019s entire financing structure, shareholders say<\/p>\n<p>   Getty Images   <a href=\"https:\/\/freebeacon.com\/author\/aaron-sibarium\/\" title=\"Posts by Aaron Sibarium\" class=\"author url fn text-red-700\" rel=\"author\">Aaron Sibarium<\/a> \u2022 September 27, 2022 5:00 am  That didn\u2019t take long. Less than a week after Pfizer was hit with <a href=\"https:\/\/freebeacon.com\/latest-news\/pfizer-hit-with-lawsuit-over-fellowship-that-excludes-whites-and-asians\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/freebeacon.com\/latest-news\/pfizer-hit-with-lawsuit-over-fellowship-that-excludes-whites-and-asians\/&amp;source=gmail&amp;ust=1664054413565000&amp;usg=AOvVaw1C5ff71u5D1Rqa7ehbkRqg\">a lawsuit<\/a> over a fellowship program that excludes whites and Asians, shareholders are demanding that the company scrap a spate of race-conscious policies that they say put it at risk of further litigation. The lawsuit, filed Sept. 15, argues that Pfizer is violating federal law by excluding white and Asian applicants from its prestigious &#8220;Breakthrough Fellowship.&#8221; In an <a href=\"https:\/\/www.americancivilrightsproject.org\/blog\/submissions\/open-letter-for-shareholders-to-officers-and-directors-of-pfizer-inc\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.americancivilrightsproject.org\/blog\/submissions\/open-letter-for-shareholders-to-officers-and-directors-of-pfizer-inc\/&amp;source=gmail&amp;ust=1664054413566000&amp;usg=AOvVaw0H4S5SL-SSH5hQ2Qpxu34C\">open letter<\/a> to Pfizer executives last week, shareholders allege that the program is just one of several policies that invite a &#8220;pandora\u2019s box&#8221; of civil rights complaints. Beyond the fellowship, they point to an apparent requirement that a fourth of Pfizer directors &#8220;identify as ethnically diverse,&#8221; according to the company\u2019s <a href=\"https:\/\/www.pfizer.com\/sites\/default\/files\/investors\/financial_reports\/annual_reports\/2021\/files\/Pfizer_ESG_Report.pdf\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.pfizer.com\/sites\/default\/files\/investors\/financial_reports\/annual_reports\/2021\/files\/Pfizer_ESG_Report.pdf&amp;source=gmail&amp;ust=1664054413566000&amp;usg=AOvVaw3N-rKhPfPJilX-Tp9zJphy\">ESG reports <\/a>and <a href=\"https:\/\/s28.q4cdn.com\/781576035\/files\/governance_docs\/2022\/Corporate-Governance-Principles-(Last-Reviewed-December-2021).pdf\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/s28.q4cdn.com\/781576035\/files\/governance_docs\/2022\/Corporate-Governance-Principles-(Last-Reviewed-December-2021).pdf&amp;source=gmail&amp;ust=1664054413566000&amp;usg=AOvVaw15QNZrLX4xLCXqOmFEFCzZ\">corporate governance principles<\/a>. The pharmaceutical giant has also linked executive pay to the diversity of its employees, with hard targets set for the number of African Americans and Hispanics in management positions. <\/p>\n<p>The letter, filed by the public interest law firm the American Civil Rights Project on behalf of shareholders, is the latest example of corporate investors taking action to challenge reverse discrimination. Over the past year, shareholders in Coca-Cola, JP Morgan, McDonalds, and Lowe\u2019s have threatened to sue executives at each company who\u2019ve implemented race-conscious policies, which they argue invite costly litigation that threatens their interests as stockholders.<\/p>\n<p> The threats persuaded Lowe\u2019s and Coca-Cola to drop a variety of racial quotas. When Starbucks executives ignored similar demands, one nonprofit, the National Center for Public Policy Research, used its stock in the company to <a href=\"https:\/\/freebeacon.com\/latest-news\/can-shareholders-challenge-corporate-discrimination-a-conservative-nonprofit-is-about-to-find-out\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/freebeacon.com\/latest-news\/can-shareholders-challenge-corporate-discrimination-a-conservative-nonprofit-is-about-to-find-out\/&amp;source=gmail&amp;ust=1664054413566000&amp;usg=AOvVaw1VBjj0M1ZDX2tmxdNfOXHG\">file a lawsuit<\/a> against the coffee giant\u2019s top brass. The center also owns stock in Pfizer, and is one of the shareholders that signed on to the demand letter. <\/p>\n<p>The letter offers a preview of how shareholder activism and traditional civil rights lawsuits can complement each other. It cites the Sept. 15 complaint as evidence that Pfizer\u2019s policies have created a &#8220;standing invitation to federal litigation&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>That didn\u2019t take long. Less than a week after Pfizer was hit with a lawsuit over a fellowship program that excludes whites and Asians, shareholders are demanding that the company scrap a spate of race-conscious policies that they say put it at risk of further litigation.<br \/>\nThe post Shareholders Demand Pfizer Scrap Race-Conscious Policies in the Wake of Civil Rights Lawsuit appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":184,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1659341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/184"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1659341"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1659341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1659341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1659341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}