State Treasurers Urge SEC to Investigate Apple Over Use of NDAs

A group of State Treasurers have sent a letter to the Securities and Exchange Commission calling for an investigation into Apple. The company is accused of misleading investors and the agency regarding its use of nondisclosure agreements, which have reportedly been used to silence mistreated workers.

We further request that the Securities and Exchange Commission investigate Apple’s statements to the SEC about their use of employment and post-employment agreements in their letter to the SEC dated October 18, 2021. Multiple news reports have stated that whistleblower documents demonstrate Apple uses the very concealment clauses it repeatedly claimed it does not use in its bid to have the SEC grant No Action relief.

The Treasurers say they would like to know whether or not Apple misled the Commission and investors.


Last September, investor Nia Impact Capital filed a shareholder proposal requesting Apple's board prepare a "public report assessing the potential risks to the company associated with its use of concealment clauses in the context of harassment, discrimination and other unlawful acts."

Apple filed a response with the SEC asking to exclude the proposal because its "policy is to not use use such clauses." That prompted former Apple employee Cher Scarlett to file a whistleblower complaint in October alleging the company made false and misleading statements to the SEC. Former Apple employee Ashley Gjovik also filed a whistleblower complaint with the SEC. In December, Apple's bid to exclude the proposal was denied.

More details in the full report linked below...

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