Joint Letter: Coalition Urges Intuit to Reject Proposal on Forced Shareholder Arbitration


Many of our organizations represent everyday investors, consumers, and workers, countless numbers of whom turn to our nation’s capital markets to save for retirement and other long-term goals. And all of our organizations seek to preserve people’s right to seek justice in court. Our constituencies rely on securities laws—and the right to enforce those laws—in order to deter financial fraud, protect the integrity of U.S. markets, and seek accountability when harmed. We write on their behalf in hopes of ensuring that you do not make a major and unprecedented change in your bylaws that would force everyday investors, consumers, or workers into a system that strips them of their fundamental rights to hold Intuit accountable in a court of law for wrongdoing against shareholders and customers. We are deeply concerned about Intuit’s decision to include a forced arbitration shareholder proposal on the ballot, and we urge the bylaw’s rejection.