Pinterest shareholders sue firm over rampant gender, race discrimination
Enlarge / The lawsuit alleges that Pinterest does indeed have a darker side. (credit: Thomas Trutschel | Photothek | Getty Images)
A group of shareholders is suing Pinterest and its board of directors, alleging that the company violated its fiduciary duty, wasted corporate assets, and abused its control by fostering a systematic culture of racial and gender discrimination that drove out women executives.
Pinterest's top executives and the board "personally engaged in, facilitated, or knowingly ignored the discrimination and retaliation against those who spoke up and challenged the company's white, male leadership clique," according to the suit (PDF). As Pinterest's user base heavily skews female, being publicly seen as a den of sexism and racism is damaging to the brand and therefore to the shareholders, the suit alleges.
"Pinterest’s leadership and Board take their fiduciary duties seriously and are committed to continuing our efforts to help ensure that Pinterest is a place where all of our employees feel included and supported," a company spokesperson said in a written statement. "We believe the actions we’ve initiated as well as the ongoing independent review regarding our culture, policies, and practices will help us achieve our goal of building a diverse, equitable and inclusive environment for everyone."