News & Analysis as of

Administrative Procedure Act Disclosure Requirements Chamber of Commerce

Morrison & Foerster LLP

Fifth Circuit Court of Appeals Vacates U.S. SEC Share Repurchase Rule

Morrison & Foerster LLP on

On December 19, 2023, the Fifth Circuit Court of Appeals issued an opinion and judgment vacating (the “Judgment”) the U.S. Securities and Exchange Commission’s (SEC) Share Repurchase Disclosure Modernization rule (the...more

BCLP

Fifth Circuit Panel Rejects Sec Request for Additional Time to Substantiate New Stock Repurchase Disclosure Rules

BCLP on

As readers may recall, on October 31, 2023 the Fifth Circuit Court of Appeals in Chamber of Commerce v. SEC ruled that the SEC acted arbitrarily and capriciously, in violation of the Administrative Procedure Act, when it...more

Vinson & Elkins LLP

Repurchase Redo: Fifth Circuit Court of Appeals Orders SEC to Correct Share Repurchase Rule Defects

Vinson & Elkins LLP on

Evaluating a broad spectrum of challenges raised by the U.S. Chamber of Commerce and others, a unanimous panel of the U.S. Court of Appeals for the Fifth Circuit recently held that the SEC failed to provide a sufficient...more

BCLP

Fifth Circuit Sends SEC Back to Cost-Benefit Drawing Board to Substantiate Its New Stock Repurchase Disclosure Rules Within 30...

BCLP on

On October 31, 2023, the Fifth Circuit ruled in Chamber of Commerce v. SEC that the SEC acted arbitrarily and capricious, in violation of the Administrative Procedure Act, when it adopted the new share repurchase disclosure...more

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