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AAJ Files Comments On Proposed SEC Regulations To Roll Back Enron
Reforms That Protect Shareholders
Monday, February 26, 2007 (Washington, DC)—Corporate
America is pushing to roll back the recently enacted Enron Reforms,
which ensure a corporation’s accountability to both its stockholders
and employees. Specifically Section 404 is under attack by corporate
interests, looking to eliminate the required second set of eyes that
safeguards ethical adherence to basic accounting standards. In response
to the Securities and Exchange Commission’s (SEC) proposed release
regarding Management’s Report on Internal Control Over Financial
Reporting, Jon Haber, CEO of the American Association for Justice
(AAJ) - formerly the Association of Trial Lawyers of America - issued
the following statement:
“The Enron Reforms were instituted after the American public
learned that negligent corporations were cooking the books and skirting
the law – devastating thousands of shareholders and employees.
How short is our memory, when only two years after enacting basic
accounting standards, we’re allowing Corporate CEOs to roll them
back? Efforts by these big corporations seeking to evade responsibility
are aimed at boosting CEOs’ salaries – not at safeguarding
the interests of investors or consumers.”
“The American Association for Justice will continue to fight
for justice and ensure that any person injured by the misconduct of
others can hold the wrongdoer accountable, even when up against the
most powerful interests.”
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As the world's largest trial bar, AAJ (formerly known as the Association of Trial Lawyers of America) promotes justice and fairness for injured persons, defends the constitutional right to trial by jury, and strengthens the civil justice system through education and disclosure of information critical to public health and safety. Serving members worldwide, AAJ provides attorneys with the information and professional assistance they need to serve clients successfully and protect the democratic values of the civil justice system. Visit http://www.justice.org
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