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January 17, 2020
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1 min read
Intuit Shareholders Urged to Vote Against Forced Arbitration Proposal
Washington, D.C. – With Intuit shareholders scheduled to vote on a proposal to strip shareholders of their right to hold the company accountable for any wrongdoing in court, more than 50 organizations sent a letter to the Board of Directors expressing their opposition to the measure. The effect of the proposal, which would force all shareholder disputes into individual arbitration at a single, pre-determined arbitration firm, would be to effectively eliminate both the deterrent effect of class-action shareholder lawsuits and the opportunity for defrauded investors to recover their losses, the groups wrote.
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