Washington, D.C., December 4, 2009—On Monday, December 7th, the U.S. Supreme Court will hear argument in Free Enterprise Fund v. Public Company Accounting Oversight Board, a lawsuit that challenges the constitutionality of much of the Sarbanes-Oxley Act of 2002.
The law, which was rushed through Congress after the Enron and WorldCom scandals, created numerous corporate governance and accounting rules that have been criticized by both Democrats and Republicans as excessively burdensome to smaller companies, detrimental to U.S. competitiveness, and ill-equipped to protect shareholders from fraud. The decision the Court makes could be more consequential to jobs growth than any job summit politicians might have.
Who: Competitive Enterprise Institute and allies
What: Oral argument for case challenging the constitutionality of the Sarbanes-Oxley’s Public Company Accounting Oversight Board
Where: U.S. Supreme Court
When: Monday, December 7, 10:00 a.m.
After the case, CEI attorneys Sam Kazman and Hans Bader and finance scholar John Berlau will be answering questions from the press at the Supreme Court and will be available by phone the rest of the day.
To schedule an interview with an expert on the case, please contact Christine Hall or Richard Morrison.
- View the 9 amici briefs in support of the case
- View Wall Street Journal editorials on the case, Sarbox and the Constitution and Sarbanes-Oxley on Trial
- View the CEI Issue Analysis: The Public Company Accounting Oversight Board: An Unconstitutional Assault on Government Accountability
- View the opinion piece by CEI Attorney Bader in Investors Business Daily
- View the opinion piece by Hans Bader in the Washington Examiner