Legal Impact for Chickens files its first lawsuit! Costco shareholder derivative case
Dear Wonderful EAs,
Thank you so much to everyone in the EA community who has contributed to the launch of Legal Impact for Chickens (LIC).
I wanted to let you know that LIC has filed our first lawsuit!
LIC is representing two Costco shareholders. The shareholders are suing Costco executives for causing the company to violate Nebraska and Iowa laws against livestock neglect.
Our complaint follows a 2021 undercover investigation revealing that chickens used by Costco are bred to grow so fast that many of them can’t stand under their own weight. The complaint alleges that many of these young, disabled birds are unable to reach food or water, and that the company fails to provide them with individualized medical care. The complaint accuses Costco’s executives of violating their basic fiduciary duty to act lawfully.
Costco is responsible for the lives and deaths of approximately 100 million chickens per year.
Our lawsuit has already gotten coverage in The Washington Post, People, Yahoo News, Fox Business, CNN Business, The New York Post, Meatingplace, Watt Ag Net, and more.
Thank you again, so much, to everyone who helped make this possible!
Sincerely,
Alene and Legal Impact for Chickens
Cheers!
Thank you!
Thank you for the work, and the report. This is very important.
Thank you Fai!
This is exciting! Thank you for your and LIC’s hard work!!
Thank you so much for all your support, Yadav!
A case of Matt Levine’s “Everything is Securities Fraud”. I’m curious why not sue directly for breaking the law? My guess is because you wouldn’t have standing?
JP, that article was hilarious!
The plaintiffs in this lawsuit are suing on behalf of Costco, derivatively. They want what is best for Costco. And what’s best for any company is to follow the law.
I’m not sure if that answers the question but hopefully it does!
Excited to see this went through Alene! Great work.
Thank you for your advice on founding LIC, Devon!
Awesome work, and best of luck!!
Thank you!!
Woot, congratulations! This is so great.
Thank you Nick!
This is brilliant! Thank you!
Thank you Emre!