Domini Divests From Facebook Over Post-Data Leak ‘Crisis’

Domini Impact Investments LLC, an investment firm managing more than $2.4 billion, has decided to divest from Facebook Inc. over what it called “a crisis of governance and accountability” at the social network.

Adam Kanzer, who directs Domini’s corporate engagement efforts, said Facebook no longer meets the firm’s investment standards after a data leak exposed millions of users’ personal information. The firm specializes in “responsible investing” for “positive social and environmental outcomes.”

“We made this decision in response to what we believe to be a crisis of governance and accountability at Facebook, with significant societal ramifications,” Kanzer wrote earlier this ...