As published in Municipal Lawyer Magazine.
The Municipality as Shareholder: Securities Litigation in the Age of Fiscal and Social Responsibility
Municipal entities are increasingly recognizing their ability to influence social change through demanding better corporate governance from the companies in which invest. They may not only seek recovery of losses due to securities fraud, but can also propel social objectives via shareholder derivative matters in which a municipal entity who holds relevant securities can investigate a company and its board, and even bring litigation, for potential wrongdoing, mismanagement, and breaches of fiduciary duties for activities ranging from environmental wrongdoing, money laundering, to systemic racial and gender inequality and more.
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