The U.S. Chamber of Commerce is constantly speaking of “faceless corporations” that it claims have been victimized by so-called “abusive lawsuits.” In reality, these companies aren’t so faceless. The Chamber’s own financial disclosures reveal that its Institute for Legal Reform (ILR) is funded by corporations notorious for their wrongdoing and misconduct. Examples of major corporations that sit on the front group’s board include Wal-Mart, Citigroup, AIG, Bank of America, and a number of insurance and drug companies. ILR’s board of directors includes corporations that earned a combined $1.4 trillion in 2007.
The Chamber claims it protects the interests of small businesses when in reality it’s bankrolled by giant multi-billion dollar corporations. The latest campaign by the Chamber and ILR is just a new phase of its longstanding fight to shield corporate wrongdoers from being held accountable. The National Federation of Independent Business released a survey just this summer that showed “costs and frequency of lawsuits” ranked at the bottom of small businesses’ list of concerns. Prior surveys of small businesses from BusinessWeek and the National Association of Manufacturers also showed litigation was not a concern. I would be shocked if anybody in America can say that all of the corporate bosses who have been caught literally stealing from investors, shareholders, and the public generally should have immunity from accountability. The Chamber and ILR have to create a firestorm of activity so they can keep the millions of dollars flowing into their coffers.
Source: American Association of Justice
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.