Report: Pirate Equity: How Wall Street Firms are Pillaging American Retail
Letter to Regulators: SEC Should Investigate Potential Unregistered Broker-Dealer Activity at Private Equity Firms
New report revealing how in the last 10 years, a staggering 597,000 people working at retail companies owned by private equity firms and hedge funds have lost their jobs. An estimated additional 728,000 indirect jobs have been lost at suppliers and local businesses, meaning Wall Street’s gamble on retail has led to more than 1.3 million job losses in total.
AFR wrote to the SEC to urge them to vigorously investigate what appear to be ongoing, widespread violations of securities law by private equity advisers.