Pinterest settled a shareholder lawsuit on Wednesday which alleged that top executives enabled a culture of discrimination.
The lawsuit was between Pinterest and the ‘Employees’ Retirement System of Rhode Island’.
The financial details were not shared publicly.
Interestingly, the company is also releasing some former employees from nondisclosure agreements in cases of discrimination.
Pinterest also committed $50 million to reforms to increase diversity, equity, and inclusion within the company and across it’s platform.
“We pushed for these sweeping reforms to support Pinterest’s employees with a fair and safe workplace, and to strengthen the company’s brand and performance by ensuring that the values of inclusiveness are made central to Pinterest’s identity,” – Rhode Island General Treasurer Seth Magaziner, who acted on behalf of the Employees’ Retirement System of Rhode Island, said in a statement.