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Chamber of Commerce Disclosure Requirements

Latham & Watkins LLP

Legal Battle Over California’s Climate Disclosure Laws Continues as Plaintiffs File a Motion for Preliminary Injunction

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Paramount to the ruling in the upcoming May 5, 2025, hearing is the likelihood that strict scrutiny will apply to the plaintiffs’ First Amendment claims against SB 253 and SB 261....more

Vinson & Elkins LLP

Ongoing Legal Battle Over California’s Climate-Related Disclosure Laws: District Court Dismisses Supremacy Clause and...

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On February 3, 2025, the U.S. District Court for the Central District of California granted a partial motion to dismiss filed by the California Air Resources Board (“CARB”), dismissing the claims that SB 253 (the Climate...more

Mintz

California Climate Disclosure Laws Survive Significant Challenge

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Judge Wright (C.D. Cal.) has significantly narrowed the Chamber of Commerce's lawsuit challenging California's climate disclosure laws. (These disclosure laws mandate disclosure of Scope 1, Scope 2, and Scope 3 greenhouse...more

Morrison & Foerster LLP

California Climate Laws, CARB Opens Comment Period Seeking Industry Input by February

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On December 16, 2024, the California Air Resources Board (CARB) called for public comment on key issues related to the implementation of California’s two major climate disclosure bills, the Climate Corporate Data...more

BCLP

California Indicates Lenient Enforcement in First Year of Climate Reporting Law

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As we previously reported, in 2023, California enacted the climate disclosure laws SB 253 (the “Climate Corporate Data Accountability Act”) and SB 261 (the “Climate-Related Financial Risk Act”), with the first disclosures due...more

Latham & Watkins LLP

Litigation Over California’s Climate Disclosure Laws Continues to Discovery Phase

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In-scope entities should keep preparing for compliance with Senate Bills 253 and 261 as the lawsuit proceeds past an initial summary judgment motion....more

Bass, Berry & Sims PLC

Motion for Summary Judgement Denied: Battle over California Climate Legislation Continues

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Soon after California passed far-reaching climate legislation last year (referred to herein as SB 253 and SB 261; see our earlier blog post here and here for background), it was challenged in the U.S. District Court for the...more

Mintz

California Governor Newsom Signs Bill Re-Affirming 2026 Start Date for Climate Disclosures

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This summer, California Governor Newsom had proposed that California delay the implementation date of its climate disclosure law for two years. The California legislature rejected this proposal, instead passing S.B. 219,...more

Allen Matkins

A New Era for ESG Policy - 2024 Land Use, Environmental & Natural Resources Update

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Over the past six months environmental, social, and governance (ESG) policy has shifted into a new era with the promulgation of new Greenhouse Gas (GHG) disclosure requirements at both the federal and state level in...more

Husch Blackwell LLP

Challenges to SEC Climate Disclosure Rules Consolidated in Eighth Circuit Court of Appeals

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On March 21, 2024, the lottery conducted by the Judicial Panel on Multidistrict Litigation selected the U.S. Court of Appeals for the Eighth Circuit as the venue for hearing a case consolidating nine lawsuits against the...more

Foley & Lardner LLP

Promoting Human Rights and Environmental Sustainability: Integrating Ethics into the Supply Chain

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Companies of all sizes are increasingly scrutinized on adherence with Environmental, Social, and Governance (“ESG”) metrics. In particular, manufacturers and customers at both ends of the supply chain are evaluated on metrics...more

Procopio, Cory, Hargreaves & Savitch LLP

Climate Disclosure Obligations for U.S. Companies: A Work in Progress

What obligations might publicly traded companies face in providing the U.S. Securities and Exchange Commission disclosures about climate-related risks? Some clarity emerged on March 6, 2024, when the SEC released its...more

Mintz

Chamber of Commerce Sues California Over Climate Disclosure Rules

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The U.S. Chamber of Commerce, in combination with a number of other organized business interests, recently filed a lawsuit in federal court seeking to invalidate two of the climate disclosure laws enacted by California last...more

Pillsbury Winthrop Shaw Pittman LLP

Unplugging the Green Light on California's New Climate Disclosure Laws

Business groups’ recently filed lawsuit mounts the first legal challenge to California’s novel climate disclosure laws, creating potential uncertainty for impacted companies. On October 7, 2023, California Governor Gavin...more

Vinson & Elkins LLP

Business Groups Sue California to Block Climate Disclosure Laws

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On January 30, 2024, the U.S. Chamber of Commerce and five co-plaintiffs representing a coalition of business groups filed a lawsuit against the state of California seeking to block the state’s new landmark climate disclosure...more

Morrison & Foerster LLP

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

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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

Cooley LLP

Fifth Circuit pulls the plug on SEC’s final share repurchase rule

Cooley LLP on

On October 31, the Fifth Circuit issued an opinion in Chamber of Commerce of the USA v. SEC, granting the Chamber’s petition for review of the SEC’s Share Repurchase Disclosure Modernization rule. The Court held that the “SEC...more

BCLP

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

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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

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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...

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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

Pillsbury Winthrop Shaw Pittman LLP

Financial Services: What’s Next Under the Biden Administration?

Pillsbury partner and Public Policy group leader Elizabeth Vella Moeller recently sat down with Matthew McGuire, former Executive Director of the World Bank under President Obama, to discuss the Biden administration’s...more

ArentFox Schiff

Alerts Newsletter: This California Warning Might Cause Alarm – or Apathy

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The discussion about including the most commonly used drug in the US has once again raised questions about the value of Proposition 65 warnings to consumers. Environmental advocates say the law has compelled companies to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Capital Markets Alert – Public Market Advocacy Groups Release Guidance

On April 27, 2018, the Securities Industry and Financial Markets Association (SIFMA), the U.S. Chamber of Commerce and Nasdaq, along with certain technology and biotechnology groups, released a policy paper titled “Expanding...more

Morrison & Foerster LLP - JOBS Act

US Chamber of Commerce on Capital Formation and Disclosure Requirements

In a recent letter, the Chamber commented to the SEC’s Advisory Committee on Small and Emerging Companies about the Committee’s consideration of the factors affecting the trend of companies remaining private and deferring...more

Snell & Wilmer

Commerce Secretary: Trust Gap Hinders Cyber Attack Reporting

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In a keynote address delivered on September 27, 2016 at the U.S. Chamber of Commerce’s fifth annual Cybersecurity Summit in Washington, DC, Commerce Department Secretary Penny Pritzker conceded that “the federal government...more

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