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Bill Would Prosecute Top Execs Who Hide Product Defects
Two U.S. Senators are proposing a law that would fine and imprison corporate officers for as long as five years if they conceal product defects that could injure or kill consumers.
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Two U.S. Senators are proposing a law that would fine and imprison corporate officers for as long as five years if they conceal product defects that could injure or kill consumers.
The Hide No Harm Act was inspired by General Motors Co.'s recall of faulty ignition switches more than a decade after it recognized they were defective.
The measure proposed by Sen. Richard Blumenthal (D-Conn.) and Sen. Bob Casey (D-Pa.) would partially shield corporate officers who notify consumers and safety regulators about dangerous products.
If enacted, the bill would not apply to GM's ignition switch crisis, Blumenthal says. He says a tougher law that holds executives accountable is needed because fining corporations alone is a weak deterrent.
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