The financial software firm Intuit announced that shareholders voted down a proposal that would have forced shareholders into binding arbitration instead of allowing them their day in court if they sue the company, its officers or directors. Earlier this month, a coalition of organizations urged shareholders to vote against the proposal. In the only, only […]
Beginning in 2019, the rail operator Amtrak amended the terms and conditions for its passenger rail transportation services to include an arbitration provision that forces individuals into a private justice system that has no judge or jury, has limited right to appeal and is not bound by precedent. Amtrak’s arbitration provision states that it is […]
Last week, the U.S. House of Representatives passed the FAIR Act, getting one step closer to banning forced arbitration clauses that prevent everyday consumers and workers from accessing the justice system when harmed. The bill passed on a bipartisan basis. Preserving their forced arbitration get-out-of-jail-free card is a crucial priority of the U.S. Chamber of […]
Today, 73 consumer, civil rights, environmental, and worker organizations urged the U.S. House of Representatives to pass the Forced Arbitration Injustice Repeal (FAIR) Act. Last week, the bill passed successfully out of the Judiciary Committee and a vote in the full House floor is expected this week. The FAN Coalition strongly supports the FAIR Act […]
Yesterday, the federal government drastically rolled back protections for some of the country’s most vulnerable people by overturning an Obama-era rule that protected seniors and other nursing home residents from being forced into secretive arbitration proceedings when they are harmed by a long-term care (LTC) facility. Forced arbitration clauses have become ubiquitous in society and […]
Today, a U.S. House of Representatives Judiciary subcommittee is holding a hearing to explore how forced arbitration clauses erode legal rights. This is the third hearing this year in Congress exploring how forced arbitration harms consumers, workers, and small businesses. It is clear that the public, everyday shareholders, and now, Congress, are very concerned about […]
A U.S. House of Representatives Financial Services subcommittee recently held a hearing on ways to protect investors. One of the bills under consideration would ban the use of forcing everyday investors into arbitration and affirmatively protect their right to band together as a class action to vindicate their rights. The impact of forcing everyday investors […]
Cross posted from Citizen Vox: Late last week, Rep. Hank Johnson (D-GA) and Sen. Richard Blumenthal (D-CT) introduced the Forced Arbitration Injustice Repeal (“FAIR”) Act, a bill that would end the harmful use of forced arbitration against workers, consumers, and small businesses. Forced arbitration clauses, which are usually hidden in the fine print of “take-it-or-leave-it” […]
This week, the U.S. Securities and Exchange Commission (SEC) issued the “no action” letter to Johnson & Johnson, something that FAN coalition members have advocated for since December. The letter states that the SEC will take no action against Johnson & Johnson if the company excludes from its proxy materials a shareholder proposal that would […]
Last week, Public Citizen sent a letter to the U.S. Securities and Exchange Commission urging the agency to issue Johnson & Johnson a “no action” letter stating that the Securities and Exchange Commission (SEC or Commission) will take no enforcement action if the company excludes from its proxy materials a shareholder proposal that would allow […]
