TotalEnergies' Uganda And Tanzania Projects Face Lawsuit By Activist Groups: Report
Portfolio Pulse from Lekha Gupta
TotalEnergies (NYSE:TTE) faces a second lawsuit by five activist groups for its Uganda and Tanzania projects, accusing the company of environmental hazards. The lawsuit is based on the 2017 French 'duty of vigilance' law. TTE's shares are trading lower by 0.90% at $56.97 premarket.

June 27, 2023 | 1:03 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
TotalEnergies faces a second lawsuit over its Uganda and Tanzania projects, causing its shares to trade lower by 0.90% at $56.97 premarket.
The second lawsuit filed against TotalEnergies by activist groups over environmental hazards in its Uganda and Tanzania projects is causing negative sentiment among investors, leading to a decline in the company's stock price. The lawsuit is based on the 2017 French 'duty of vigilance' law, which requires large companies to identify risks in their global operations and supply chains and detail strategies to prevent them.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100