WASHINGTON, D.C.—Thomas J. Donohue, president and CEO of the U.S. Chamber of Commerce, issued the following statement today regarding the Ecuadorian judgment of $8.6 billion against Chevron:
“Yesterday’s multi-billion-dollar ruling against Chevron in Ecuador, including the documented incidences of undue Ecuadorian government influence, runs contrary to the fundamental rule of law. Further, it represents a broader and very troubling trend – global extortion of multi-national companies, often orchestrated by American plaintiffs’ lawyers, who leverage corrupt foreign courts to render large judgments and then attempt to enforce those around the globe.
“The foundation of the American economy, and indeed the global economy, is the rule of law. Workers and investors – in the U.S., Ecuador and worldwide – will feel the ill effects of this troubling trend until we take a good look at the U.S. plaintiffs’ lawyer activities at the heart of this global scam.”
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.