Lawdragon Profiles Groundbreaking Workplace Protections Achieved by BLB&G in its Fox Derivative Litigation
In “Bernstein Litowitz: Helping Fox Guard the Workplace,” Lawdragon sheds light on the impact of BLB&G’s landmark shareholder derivative litigation against 21st Century Fox arising from shocking revelations of sexual harassment and workplace misconduct at its Fox News channel.
Last year, the Delaware Chancery Court approved an unprecedented settlement of the action in which BLB&G and its client the City of Monroe (MI) Employees’ Retirement System, a 21st Century Fox shareholder, alleged that the company’s board had failed in its duty to protect the company and its investors from the widespread workplace harassment and discrimination revealed at Fox News.
The settlement included two key components: the creation of the "Fox News Workplace Professionalism and Inclusion Council" ("WPIC") of experts, the first-ever independent board-level committee designed to monitor and address workplace misconduct at a major public company; and one of the largest financial recoveries - $90 million - ever obtained in a pure corporate board oversight dispute (recouped for the company from management).
Lawdragon sat down with Max Berger, Mark Lebovitch and Rebecca Boon of BLB&G’s Fox trial team for a detailed discussion of how the groundbreaking recovery came about, as well as the WPIC’s impact on the #metoo movement and the business community.
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