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On February 11, 2019, the SEC’s Division of Corporation Finance issued a no-action letter to Johnson & Johnson, stating that it would not recommend enforcement action if the company excluded from its proxy statement a shareholder proposal relating to mandatory arbitration of federal securities law claims. In connection with the staff’s no-action letter, SEC Chairman Jay Clayton issued a public statement, in which he acknowledged that this issue is a “complex matter under both federal and state law,” expressed his support for the approach the staff took, and stated that the Commission should decide any policy determination on the issue. Continue
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Ropes & Gray conducted an independent investigation into the abuse of hundreds of elite and Olympic gymnasts and other children by Larry Nassar. To read the report and for more information, please visit nassarinvestigation.com.