In re Pinterest Derivative Litigation

INTRODUCTION

18 Plaintiffs in this shareholder derivative suit move, unopposed, for preliminary approval 19 of a settlement. For the reasons that follow, preliminary approval of the settlement is

GRANTED.

STATEMENT

22 This order describes the facts as alleged in the consolidated amended complaint in some 23 detail as no prior order has done so. The lawsuit, brought by shareholders of Pinterest stock, 24 arises out of allegations of widespread race and sex discrimination at defendant Pinterest, Inc. 25 The catalyst for the suit came in large part from nonparties Ifeoma Ozoma and Aerica Shimizu 26 Banks. They were hired as the second and third members, respectively, of Pinterest’s public- 27 policy team. The complaint identifies both Ozoma and Banks as Black women (and Ozoma also as Japanese). As alleged, both complained internally about the discrimination they experienced as Black women while working for Pinterest. One such instance occurred just after Pinterest rolled out a policy against a particular extremist organization. Afterward, Pinterest employees’ identities and internal Slack conversations were leaked to a reactionary website. …