Facebook sued by shareholders: Supporting racial diversity is what it does

Natalie Ocgueda, a Facebook shareholder, has filed a lawsuit against Facebook, accusing it of verbally supporting racial diversity, but has not made any real progress,media reported. Mr Okegueida said a large number of advertisers had recently fled Facebook because the company had failed to address race.

Facebook sued by shareholders: Supporting racial diversity is what it does

Ads from more than 400 brands, including Coca-Cola and Starbucks, were pulled from Facebook on Wednesday because of a failed negotiation. They argue that Facebook is not doing enough to remove divisive, racist and hateful content.

The lawsuit also cites Facebook’s refusal to delete a racially charged post by U.S. President Donald Trump as an example of Facebook’s underperformance in this regard.

In addition, Kenneth Chenault stepped down from Facebook’s board this year, Okgueta noted. Mr. Chenault, an African-American, ran American Express from 2001 to 2018.

“Facebook’s approach to diversity has always been symbolic: make a small gesture to satisfy appearance, but make no potentially substantial changes,” the complaint said. “

Facebook has yet to comment.