Shares of Starbucks Corp.
SBUX,
were flat in extended trading late Friday after a federal court dismissed a lawsuit accusing company executives and directors of violating their fiduciary duty to shareholders by supporting corporate diversity policies. The decision is a setback for one of a handful of lawsuits that legal activists have filed to reverse Starbucks’ policies aimed at increasing the proportion of women and members of racial or ethnic minority groups in their workforces and contracting corps. “We’re pleased with this decision given we very much disputed the plaintiff’s claims,” a Starbucks spokesperson said. National Center for Public Policy Research, which filed the lawsuit as the owner of a few dozen Starbucks shares, must decide whether to appeal the order.
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