On October 31st, the US Court of Appeals for the Fifth Circuit issued an opinion in Chamber of Commerce USA v. SEC, No. 23-60255 (Fifth Circuit), in which petitioners challenge the Share Repurchase Disclosure Modernization rule (Repurchase Rule), which became effective on July 31, 2023. The court granted the petition for review and ordered the SEC to correct the defects the court identified in the Repurchase Rule by November 30, 2023. The Repurchase Rule has not been corrected, allowing the rule to be vacated by the courts. Continue reading "Update Regarding SEC’s Share Repurchase..." »