News & Analysis as of

Environmental Social & Governance (ESG) Misleading Statements Enforcement Actions

Ropes & Gray LLP

Greenwashing Legislation Trends: Key Takeaways for Businesses

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On Wednesday, August 27, Ropes & Gray Litigation & Enforcement partner Alexander Simkin and associate Eileen Falk joined Sami Grover, Sustainability Communications Director at thinkPARALLAX, to discuss the intersection...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for October 2024

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Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •Accounting fraud charges for allegedly concealing costs; ...more

Mintz

SEC Imposes $17.5 Million Fine Against Investment Adviser for Greenwashing

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3 On November 8, the SEC and an investment advisor entered into a settlement to resolve an administrative proceeding featuring allegations of greenwashing. Specifically, the investment advisor was alleged to have made...more

Royer Cooper Cohen Braunfeld LLC

The Pitfalls of “Green Washing”

In a significant development for the investment management industry, a large adviser agreed to pay a hefty $17.5 million civil penalty to settle charges with the SEC over misleading statements about its Environmental, Social,...more

Latham & Watkins LLP

Recent Developments for Directors - November 2024

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SEC Penalizes Director for Misleading D&O Questionnaire Response - The SEC recently brought an enforcement action against a director for causing violations of the proxy rules by failing to disclose a close personal...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Litigation Updates — November 2024

Despite the recent disbandment of the SEC’s Climate & ESG Task Force, the SEC is continuing to pursue enforcement actions concerning environmental issues, including greenwashing. Notably, over the past several weeks, the SEC...more

K&L Gates LLP

Australia Greenwashing: Half-Yearly Review of ASIC and ACCC Prosecutions – and ACCC Position on Environmental Collaborations

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In Brief - The Australian Competition and Consumer Commission (ACCC) and Australian Securities and Investments Commission (ASIC) continue to be vigilant and seek significant penalties for alleged "greenwashing" (misleading...more

Baker Botts L.L.P.

CFTC, SEC, and SDNY Break New Ground and File Charges Against Carbon Credit Project Developer and Former Executives for Fraudulent...

Baker Botts L.L.P. on

On October 2, 2024, the Commodities Futures Trading Commission (“CFTC”), the Securities and Exchange Commission (“SEC”), and the United States Attorney’s Office for the Southern District of New York announced parallel...more

Mintz

Recent Greenwashing Litigation Focuses on Consumer Products

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Over the past couple of weeks, there have been a pair of greenwashing lawsuits filed--by both private plaintiffs and government regulators--that highlight the current focus on consumer products as a centerpiece of...more

Davis Wright Tremaine LLP

A Dream Is a Wish Your Heart Makes: Aspirational Claims in Advertising Can Be Misleading, Too

The end of a year and the beginning of a new one can be a time of reflection and a time for thinking about the future and what it may hold. It is a time for making lists of resolutions, goals, and aspirations...more

Cadwalader, Wickersham & Taft LLP

Australia’s Securities and Consumer Protection Regulators Pursue Alleged Greenwashing

On February 28, 2023, Australia’s securities regulator, the Australian Securities and Investments Commission (ASIC), announced that it had commenced “civil penalty proceedings” in federal court against Mercer Superannuation...more

Cadwalader, Wickersham & Taft LLP

Disclosure: Financial Institution Advertisement Banned by UK Regulator

The UK’s Advertising Standards Authority (ASA) has ruled that two UK retail banking advertisements, which made claims about the financial institution’s green credentials, were “misleading” and “omitted material information.”...more

Jones Day

SEC Brings Landmark Suit Over Alleged Misrepresentations in ESG-Related Documents

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The U.S. Securities and Exchange Commission's ("SEC") Climate and ESG Task Force has filed one of its most significant enforcement matters to date. On April 28, 2022, the SEC brought an action in the U.S. District Court for...more

Mayer Brown Free Writings + Perspectives

SEC's ESG Task Force Brings 1st Case Against Brazilian Mining Co., Alleging Material Misstatements About Dam Safety

On April 28, 2022, the U.S. Securities and Exchange Commission (SEC) charged Vale S.A. (Vale), a publicly traded Brazilian mining company and one of the world’s largest iron ore producers, with making false and misleading...more

WilmerHale

SEC Climate & ESG Task Force Enforces on “E” and “S”

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On April 28, 2022, the Securities and Exchange Commission (SEC) announced an action against Brazilian mining company, Vale S.A., in relation to an environmental and social catastrophe: the collapse of its Brumadinho dam in...more

Cadwalader, Wickersham & Taft LLP

ESG Enforcement Watch: SEC Files Fraud Complaint against Brazilian Miner, Vale, over False Safety Claims prior to Environmental...

Summary - In an important development, on April 28, 2022, the Securities and Exchange Commission (SEC) commenced an action in the United States District Court for the Eastern District of New York in which it asserted that...more

Jones Day

SEC Enforcement in Financial Reporting and Disclosure: 2019 Mid-Year Update

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We are pleased to present our annual mid-year update on financial reporting and issuer disclosure enforcement activity for 2019. This White Paper primarily focuses on the U.S. Securities and Exchange Commission's enforcement...more

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