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Friday, August 31, 2007

Sustainability reports and securities class actions?

Back in March of 2005, the prior author of this blog put the "over/under on the filing date of the first securities class action to include allegations from a corporate executive's blog" at December 31, 2005.

Unless a hyper-alert reader can point to a complaint that I missed, I believe that this particular event has not yet come to pass.

But, let's add a new one to the mix to keep our eyes open for - the first securities class action to include allegations from a corporate sustainability report.

As frequently noted by Kevin LaCroix over at The D&O Diary, the dull roar that we hear in the background is people talking about climate change (née, global warming) and litigation risk.

Given the proliferation of corporate sustainability reports (examples include - Baxter International, Ford Motor Company, Procter & Gamble, and UPS), I'll put the over/under at June 30, 2008 for the first securities class action to include allegations from a corporate sustainability report.

So ever-vigilant readers, go forth and an find a securities class action to include allegations from a corporate executive's blog or from a corporate sustainability report. First correct answer wins a prize.

Comments

You are more likely to find so-called "corporate sustainablity" allegations in a derivative complaint, no?

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