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 […]
Nine Republican state treasurers are calling on the SEC to reject attempts to include forced arbitration clauses in corporate governance documents, underscoring that protecting Main Street investors is truly a bipartisan issue. The FAN Coalition strongly supports the call to protect investors against any attempt to insert forced arbitration clauses. The full letter can be […]
FAN Coalition Applauds Legislation to Restore Workers’ Rights When Harmed by Employer If Passed, Employers Would be Banned From Forcing Workers into Secretive Arbitration Proceedings WASHINGTON, D.C. – Fair Arbitration Now (FAN) applauds U.S. Reps. Jerrold Nadler (D-N.Y) and Bobby Scott (D-Va.) for introducing the Restoring Justice for Workers Act Tuesday, a bill that would […]
Today, Reps. Jerrold Nadler and Bobby Scott and Sen. Patty Murray introduced the Restoring Justice for Workers Act, a bill that will restore access to justice for workers who have been harmed by their employer. In a letter of support for the bill, the FAN coalition said that the bill “correctly recognizes the fundamental rights and […]
ICYMI, last week the Washington Post published a story about the rapidly growing use of electric scooters in major cities. The article notes that riders, when injured while riding a scooter, are informed that they cannot go to an open, neutral court for justice. Instead, they are pushed into binding, secretive arbitration procedures. The full […]
A new report by the Consumer Federal of America details the importance of allowing investors who have been cheated or defrauded the ability to band together to access the courts. Recently, several U.S. Securities and Exchange (SEC) officials have signaled that they would be happy to allow companies to prohibit investors from banding together to […]
This was first posted on Public Citizen’s CitizenVox. In an interview with Politico, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce offered her support to allow companies the ability to prevent investors from banding together in class actions against them if they are victims of securities fraud or abuse. That would mean that […]
Recently, SEC Commissioner Robert Jackson and SEC Investor Advocate Rick Fleming spoke out against any move to limit an investors’ access to justice by forcing them into arbitration. They both argue that investors play a vital role in helping to police corporate wrongdoing. In addition, holding corporate wrongdoers accountable for their actions deters others from […]
FOR IMMEDIATE RELEASE December 5, 2017 CONTACTS: Amanda Werner, Americans for Financial Reform & Public Citizen, awerner@ourfinancialsecurity.org, (202) 973-8004 Washington, DC (December 5, 2017) – Today, the U.S. Senate Banking Committee rejected an amendment to S. 2155, which would have restored consumers’ right to sue financial giants when they break the law. While other […]