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Stock impact report

Real estate firm hit with class-action lawsuit over climate risk in retirement plan [Yahoo! Finance]

Cushman & Wakefield Ltd. Common Shares (CWK) 
Last cushman & wakefield ltd. common shares earnings: 2/27 04:09 pm Check Earnings Report
Company Research Source: Yahoo! Finance
This story was originally published on ESG Dive . To receive daily news and insights, subscribe to our free daily ESG Dive newsletter Dive Brief: A former employee at commercial real estate services company Cushman & Wakefield filed a class action lawsuit Tuesday alleging that the firm failed to properly monitor and protect its employee 401(k) plan from “material climate-related financial risks,” according to a Wednesday press release from environmental legal nonprofit ClientEarth. The complaint alleges that Cushman & Wakefield broke the Employee Retirement Income Security Act of 1974 by continuing to include a Westwood Quality SmallCap fund in its plan that is “openly indifferent to climate risk.” The fund's managers do not model or manage climate risk in the fund's portfolio, according to the complaint. The lawsuit is the “first-of-its-kind” and, if successful, could create “a legal precedent that recognizes climate risk management as a mandatory component of fiduciary duty Show less Read more
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