Campbell’s Soup stock dropped more than 3% on November 24 after a lawsuit surfaced accusing a senior executive of mocking customers, disparaging Indian employees, and making claims about “3D printed” bioengineered meat.
The allegations stem from a recording made by former cybersecurity analyst Robert Garza, who said he began recording what he believed would be a routine salary meeting with Campbell’s Vice President and Chief Information Security Officer Martin Bally in late 2024.
According to the filing in Wayne County Circuit Court, Garza alleges Bally mocked Campbell’s products as being made for “poor people,” questioned who would buy them, and repeatedly made racially offensive remarks.
Campbell’s taken to court
The recording allegedly includes Bally expressing concerns about “bioengineered meat that came from a 3D printer,” a remark that has fueled backlash among environmentally focused investors. Campbell’s responded to these claims, telling Newsweek that its ingredients are not bioengineered in that manner and described the comments as “patently absurd.”
The complaint, filed November 20 as Garza v. Campbell Soup Company, further alleges that Bally admitted on tape to coming to work after consuming marijuana edibles and delivered an hour-long tirade criticizing employees, customers, and the company’s food. Portions of the audio were broadcast by Local 4 News in Detroit, including Bally allegedly saying, “We have s**t for f**king poor people.”
Garza said he reported the recording to his supervisor in January 2025, but according to the lawsuit, he was terminated roughly 20 days later. His attorney told local media that Garza had no disciplinary history with the company and believed he was acting to protect colleagues targeted in the alleged remarks.
Campbell’s Soup Company confirmed that Bally has been placed on leave while an internal investigation continues. The company reiterated that the executive does not work in food production and said the comments, if authentic, do not reflect its values or ingredient standards.
Market reaction and ongoing case
Finbold notes that the controversy has contributed to negative sentiment among shareholders. Campbell’s stock fell to $30.53 in pre-market trading on Monday and is trending downward amid calls for a boycott from some social media users. The company’s largest investors include BlackRock and Vanguard, two firms frequently associated with ESG-focused portfolios.
The lawsuit accuses Campbell’s of maintaining a racially hostile work environment and retaliating against Garza for reporting discrimination. The case is ongoing, and a court ruling may determine further consequences for the company and its leadership.
