Shareholders Sue Hershey Over Child Labor Complaint
Lawyers representing the Louisiana Municipal Police Employees' Retirement System (LAMPERS) have sued Hershey (NYS: HSY) , alleging the confectionary giant uses cocoa produced with unlawful child and forced labor in Africa. LAMPERS is a Hershey shareholder.
Law firm Grant & Eisenhofer (G&E), which specializes in areas like securities and corporate governance law, filed the lawsuit yesterday. The lawsuit seeks to open corporate records to shareholder scrutiny. G&E alleges that in the past decade Hershey "has thrown up multiple roadblocks to reasonable examination of its conduct."
The lawyers in particular talk about child labor practices in Ghana and the Ivory Coast and say Hershey listed these two West African countries as "major sourcing countries" in a 2011 report.
Hershey has more than 80 brands and revenues of more than $6 billion.
The article Shareholders Sue Hershey Over Child Labor Complaint originally appeared on Fool.com.John Divine has no positions in the stocks mentioned above. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.