Senate Overwhelmingly Upholds Strong Rules on Corporate Accountability

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Senate Overwhelmingly Upholds Strong Rules on Corporate Accountability: Amendment Aiming To Rollback Enron Reforms Soundly Defeated

For Immediate Release: April 25, 2007

AAJ Communications
202.965.3500, x369

Washington, DC—American Association of Justice Chief Executive Officer John Haber issued the following statement today:

“We applaud Senators Chris Dodd, Richard Shelby and other members of the Senate who rejected the DeMint amendment to S. 761 (the America Competes Act) by a 62-35 margin yesterday.

“The failed attempt by corporations to hide from the public the adequacy of their internal financial controls was beaten back by an overwhelming majority. That’s good news. This action preserves the strong standards of Sarbanes-Oxley requiring corporations to disclose to their shareholders the adequacy of internal financial controls.

“We hope that Congress will continue to vigilantly preserve all of the Enron reforms enacted to protect the public from the sort of corporate fraud that cost shareholders, pension-holders and the public billions of dollars.”

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