Pinterest to Spend $50 Million on Diversity to Settle lawsuit

Pinterest Inc. has committed to spend $50 million to promote diversity within its ranks as part of a settlement of lawsuits filed by investors after two Black women complained of unfair treatment at the company.

• Settlement calls for “sustained efforts by Pinterest that will put diversity, equity, and inclusion at the forefront of its internal goals and business operations,” according to papers filed Wednesday in federal court in San Francisco
• The company must also study employee pay to make sure women and minorities are treated fairly; mandate that executives draw up equity plans for their subordinates; and make changes to ...