NYC Pension Funds Sue AT&T Over Workforce Data Disclosure

Investors allege telecom giant violated securities law by excluding diversity report proposal from proxy vote.

Published on Feb. 19, 2026

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The New York City Employees' Retirement System and other city pension funds have filed a lawsuit against AT&T Inc., alleging the telecommunications company violated securities law by declining to share information about its workforce demographics and excluding a related shareholder proposal from its proxy solicitation.

Why it matters

The case highlights growing investor pressure on major corporations to be more transparent about the diversity of their workforces, which has become an increasingly important issue for shareholders concerned about equity and inclusion.

The details

The investors are seeking the disclosure of a workforce information report. They claim AT&T's decision to exclude their proposal from the shareholder proxy vote for the company's 2026 annual meeting violates Section 14 of the Securities Exchange Act of 1934. The plaintiffs are asking the court to stop AT&T from soliciting shareholder proxies without including the diversity report proposal.

  • The lawsuit was filed on February 17, 2026.

The players

New York City Employees' Retirement System

A pension fund for New York City municipal workers that is seeking greater workforce diversity disclosure from AT&T.

AT&T Inc.

A major telecommunications company that has been sued by New York City pension funds over its refusal to share workforce demographic data.

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What they’re saying

“We must not let corporations hide information about the diversity of their workforces from shareholders and the public.”

— Comptroller Brad Lander, New York City Comptroller (New York Times)

What’s next

The court will decide whether to grant the plaintiffs' request to stop AT&T from soliciting proxies without including the diversity report proposal.

The takeaway

This lawsuit underscores the growing pressure on major companies to be more transparent about workforce demographics, as investors seek to hold corporations accountable for promoting equity and inclusion.