SEC Commissioner Hester Peirce is taking a leading advocate for institutional investors to task over its opposition to mandatory arbitration at Johnson & Johnson and other companies.
The Republican’s remarks at a Council of Institutional Investors conference in Washington March 5 came a few weeks after the Securities and Exchange Commission allowed Johnson & Johnson to block a shareholder proposal that would steer aggrieved investors into arbitration rather than bringing class-action lawsuits against the company. J&J didn’t want shareholders to have a say on the matter.
The Council of Institutional Investors said in a January letter to the SEC that ...
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