A California federal judge awarded $2.5 million in additional legal fees on Thursday to attorneys monitoring Pinterest’s adherence to a settlement agreement that resolved investor claims of race and sex discrimination within the company. U.S. District Judge William Alsup expressed satisfaction with both Pinterest and the investors’ legal teams for their efforts to ensure compliance since the settlement was reached.
Pinterest pays $2.5M in legal fees : Monitoring Compliance with Reforms
The fee request, made by the investors’ attorneys from Renne Public Law Group and Cohen Milstein Sellers & Toll PLLC, went unchallenged by Pinterest. This latest award comes on top of the $2.5 million in fees Judge Alsup approved in 2022, when he initially signed off on the settlement.
Under the terms of the agreement, Pinterest committed to investing $50 million in corporate reforms over a ten-year period to foster a more inclusive workplace. The settlement followed a shareholder derivative lawsuit filed in November 2020, alleging that Pinterest maintained a “systematic culture, policy and practice of illegal discrimination on the basis of race and sex” since at least 2018.
Pinterest pays $2.5M in legal fees : Positive Progress Noted
During the past two years, the investors’ legal team has worked with Pinterest to monitor compliance, submitting biannual reports to the court. In his order, Judge Alsup highlighted the recent reports, which indicated that Pinterest leadership has not only met but in some cases “exceeded expectations” in achieving the goals set by the settlement.
