Campaign for Accountability files lawsuit on behalf of investor Stephen Silberstein against the SEC
Today the Campaign for Accountability filed a lawsuit in the U.S. District Court for the District of Columbia on behalf of investor Stephen Silberstein against the U.S. Securities and Exchange Commission. The lawsuit challenges the refusal of the SEC to grant a rulemaking petition Mr. Silberstein filed over a year ago requesting that the agency issue a regulation that would require public companies to disclose all corporate funds spent on political activities.
As an investor with a broad portfolio, Mr. Silberstein needs this information to fulfill his duties as a shareholder to determine whether a company’s political contributions are in the best interests of the company. The lawsuit is filed under the Administrative Procedure Act and asks the court to declare the refusal of the SEC to act on the petition arbitrary, capricious, and contrary to law and to require the SEC to initiate a rulemaking procedure.
Read the Complaint
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