SEC Granting "No Action" Relief to Johnson and Johnson to Address Forced Arbitration ProposalFebruary 12,2019
Washington, DC — The following is a statement from American Association for Justice (AAJ) CEO Linda Lipsen on the U.S. Securities and Exchange Commission (SEC) granting “no action” relief to Johnson and Johnson:
“Today’s decision from the SEC is a huge victory for investors. As New Jersey’s Attorney General stated, inserting forced arbitration language into Johnson & Johnson’s bylaws would violate state law—but in the bigger picture, forced arbitration robs all citizens of their right to seek public accountability from law-breaking corporations and should never be permitted.
We commend the SEC for this important decision and look forward to continuing this fight.”