April 19, 2024
The U.S. Securities and Exchange Commission has been grabbing headlines over the past couple of months as it attempts to fend off a host of lawsuits challenging recently enacted climate disclosure rules, but the agency has been no stranger to litigation brought by business groups opposing everything from new stock buyback disclosures to the agency's growing private fund oversight to its hands-off approach to crypto rule writing.
December 20, 2023
The Fifth Circuit on Tuesday vacated the U.S. Securities and Exchange Commission's rules requiring companies to disclose more information on stock buybacks, noting that the SEC failed to fix issues identified by the appellate court within the time frame it was given to do so.
December 08, 2023
The U.S. Chamber of Commerce is urging the Fifth Circuit to scrap the U.S. Securities and Exchange Commission's recently suspended rules governing stock buybacks, following the agency's failure to revise the rules within a court-mandated deadline.
December 04, 2023
The U.S. Securities and Exchange Commission has told the Fifth Circuit that it was unable to correct "defects" regarding recently approved share-repurchase rules within the court's 30-day deadline, jeopardizing chances that new disclosure requirements involving corporate buybacks will take effect anytime soon.
November 27, 2023
A panel of the Fifth Circuit has denied the U.S. Securities and Exchange Commission's bid for additional time to rework its share-repurchase rules, meaning the agency's new disclosure requirements will remain suspended unless regulators craft a solution by a Thursday deadline.
October 31, 2023
The Fifth Circuit held Tuesday that the U.S. Securities and Exchange Commission acted "arbitrarily and capriciously" in finalizing new rules requiring companies to disclose more information on stock buybacks, yet the appeals court declined to vacate the rule and instead ordered the agency to fix it within 30 days.
September 01, 2023
In September, federal appeals courts have set oral arguments on several important employee benefits disputes from workers claiming violations of the Employee Retirement Income Security Act, and a D.C. Circuit panel will be asked to determine whether Rite Aid violated labor law when changing union retirees' health benefits.
August 16, 2023
Investor advocate Better Markets Inc. on Wednesday urged the Fifth Circuit to toss business groups' appeal of the new U.S. Securities and Exchange Commission's rules requiring additional buyback disclosures, arguing that the regulations support market transparency and are consistent with the First Amendment.
July 19, 2023
Two former chief economists of the U.S. Securities and Exchange Commission have urged the Fifth Circuit to vacate the regulator's new rules on buyback disclosures, arguing that the SEC has failed to provide credible economic justifications for the new rules and that buybacks actually benefit investors and the public.
July 05, 2023
The U.S. Chamber of Commerce and two business groups are urging the Fifth Circuit to toss the Securities and Exchange Commission's new rules on buyback disclosures, or at least vacate key elements of the rules, alleging regulators are unconstitutionally compelling speech from companies without benefiting investors.