Last week, I wrote about the D.C. Circuit Court of Appeal’s decision in Business Roundtable v. SEC which vacated Rule 14a-11. Obviously, the decision was a victory for the Business Roundtable and the Chamber of Commerce and a stinging loss for the SEC.

Other Winners

Other winners include Commissioners Troy Paredes and Kathleen Casey (whose term expires this year) who voted against the rule and the American Bar Association’s Committee on Federal Regulation of Securities whose comment letter was cited twice by the Court of Appeals.