Category: Litigation

Court dismisses case to compel SEC to act on rulemaking petition for corporate political spending disclosure

by Cydney Posner As noted in Law360,  a DC District Court has granted the SEC’s motion to dismiss a complaint filed to compel the SEC to act on a rulemaking petition regarding corporate political spending disclosure.  Of course, as discussed in this PubCo post, a provision prohibiting the SEC from […]

Is a lot more at stake in the conflict minerals case than the conflict minerals disclosure rules?

by Cydney Posner An amicus brief filed in the conflict minerals case, National Association of Manufacturers, Inc. v. SEC, was submitted this week by a group of anti-smoking  and other organizations dedicated to protecting public health: Truth Initiative, Public Health Law Center, National Association of County and City Health Officials, […]

Second Circuit defers to SEC interpretation of “whistleblower” for purposes of retaliation suit under Dodd-Frank

by Cydney Posner In Berman v. Neo@Ogilvy LLC, a three-judge panel of the Second Circuit reversed and remanded a decision of the SDNY, which had dismissed a claim for retaliation by a  former employee on the basis that Dodd-Frank’s whistleblower protections apply only to employees discharged for reporting violations to […]

District Court compels SEC to provide “expedited schedule” for issuing Dodd-Frank resource extraction rule — will other rule proponents follow suit?

by Cydney Posner A U.S. District Court has handed a victory  to Oxfam America in its efforts to compel the SEC to complete rulemaking on the Dodd-Frank mandate regarding resource extraction disclosures (Section 1504). Unless appealed, the decision almost puts the SEC in the vicinity of where it was in […]

Class action charges misrepresentation in policies and disclosures regarding slave labor in supply chain

by Cydney Posner As discussed in this Bloomberg article, Costco and some of its suppliers are facing class action litigation alleging that Costco misled consumers about the use of slave labor and human trafficking in its supply chain for the frozen shrimp it sells.  Concerns regarding human trafficking and slave labor […]

Three-judge panel of D.C. Circuit again holds that mandatory disclosure requirement of conflict minerals rule violates First Amendment

by Cydney Posner In November 2014, the D.C. Circuit Court of Appeals granted the petitions of the SEC and Amnesty International for panel rehearing in connection with the conflict minerals case, National Association of Manufacturers, Inc. v. SEC. Today, a three-judge panel of the D.C. Circuit, by a vote of two […]

Third Circuit renders opinion in Trinity Wall Street v. Wal-Mart (and admonishes SEC to issue new guidance)

by Cydney Posner Yesterday, the Third Circuit finally rendered its opinion  in Trinity Wall Street v. Wal-Mart Stores Inc, a case involving a shareholder proposal submitted by Trinity Wall Street requesting that Wal-Mart’s board develop a policy regarding the sale of high-capacity firearms and other dangerous products. Wal-Mart sought to […]