News & Analysis as of

Publicly-Traded Companies Securities and Exchange Commission (SEC) California

Mintz - Energy & Sustainability Viewpoints

Sustainable Energy & Infrastructure Litigation Updates — August 2025

There was a noteworthy development in the ongoing legal challenge to the SEC’s mandatory climate disclosure law (dating from the Biden administration), which is currently pending in the Eighth Circuit. Following the decision...more

Baker Donelson

Red Tape or Green Future? Unpacking California's Climate Disclosure Laws and the Pushback

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As the federal government works to roll back climate regulations and climate-focused initiatives, states are developing avenues to fill in the gaps left behind. In 2024, the Securities and Exchange Commission (SEC) adopted...more

Proskauer - Regulatory & Compliance

The SEC Votes to “End its Defense” of Climate Change Rules

As previously reported, SEC Asks Court to Put Climate Change Litigation on Hold, the SEC had asked the court to suspend litigation in the U.S. Court of Appeals for the 8th Circuit challenging its new climate change disclosure...more

DLA Piper

SEC withdraws defense of US Climate Disclosure Rules

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Yesterday, March 27, 2025, the Securities and Exchange Commission (SEC) notified the US Court of Appeals for the Eighth Circuit that the SEC wishes to withdraw its defense of its landmark Climate Disclosure Rules (Climate...more

Beveridge & Diamond PC

Changing Climate for Corporate Disclosures: SEC Mandates Climate Disclosures for Public Companies (Updated)

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Update: On February 11, 2025, acting SEC Chairman Mark Uyeda issued a statement changing the SEC’s position on the Final Climate Rules. Chairman Uyeda states that he “continue[s] to question the statutory authority of the...more

Troutman Pepper Locke

California Law Highlights the Need to Prepare for Climate Disclosures

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The march toward mandated corporate disclosures for climate-related risks continues. Despite significant pushback and substantial legal challenges, state legislatures and regulators are continuing to advance laws and rules...more

Bass, Berry & Sims PLC

Update (and Refocus) on California Climate Disclosures

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As anticipated, on September 27, California Governor Gavin Newsom signed into law Senate Bill 219 (SB 219), after the California legislature passed it on August 31, 2024. SB 219 amends the Climate Corporate Data...more

Cozen O'Connor

California Files Amicus Brief Defending SEC Climate Disclosure Rule

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California AG Rob Bonta has filed an amicus brief with the U.S. Court of Appeals for the Eighth Circuit in defense of the SEC’s climate disclosure rules (Final Rule), which requires publicly traded companies to disclose...more

Alston & Bird

Sustainability Spotlight – Q1 2024

Alston & Bird on

Welcome to the inaugural edition of the Sustainability Spotlight, your place to keep up with all the ESG action – federal and state enforcement, shareholder proposals and litigation, and state attorney general actions. ...more

Proskauer - Regulatory & Compliance

Special Report: Primarily Non-Financial Corporate Reporting for U.S. Companies - Where to Start?

A wave of new legislation and regulation in the U.S. and Europe has the potential to significantly impact the non-financial reporting obligations of U.S. companies. With the myriad of requirements overlaid with varying...more

K&L Gates LLP

California Enacts Landmark ESG Legislation

K&L Gates LLP on

Introduction - On 7 October 2023, California Governor Gavin Newsom signed into law landmark legislation mandating corporate climate and climate-related financial risk disclosures. Together, SB 253 and SB 261 apply to public...more

Sheppard Mullin Richter & Hampton LLP

Change is in the Air: Everything You Need to Know About California’s Sweeping New Climate Disclosure Laws

On October 7, 2023, California Governor Gavin Newsom signed into law two sweeping climate disclosure bills, Senate Bill 253 (“SB 253”), the Climate Corporate Data Accountability Act, and Senate Bill 261 (“SB 261”), the...more

Troutman Pepper Locke

California Adopts Landmark GHG Emissions and Climate Risk Reporting Laws, Eclipsing Anticipated Federal Requirements

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California Governor Gavin Newsom signed two landmark bills into law on October 7, imposing stringent new requirements on large companies doing business in California to publicly report their annual greenhouse gas (GHG)...more

Skadden, Arps, Slate, Meagher & Flom LLP

California Poised To Adopt Sweeping Climate Disclosure Rules

In September 2023, the California Legislature passed Senate Bill 253, Climate Corporate Data Accountability Act (SB 253) and Senate Bill 261, Greenhouse Gases: Climate-Related Financial Risk (SB 261). California Gov. Gavin...more

Fenwick & West LLP

California’s Proposed Bills Require Companies to Report on Climate Emissions and Risks

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While all eyes are on proposed federal and European climate disclosure rules, the California legislature passed two climate-related bills that overlap somewhat with the Securities and Exchange Commission (SEC)’s proposed...more

Snell & Wilmer

Board Diversity Initiatives Falter in the Courts but Investor Interest Is Likely to Remain Strong

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Last year, Superior Courts in Los Angeles County invalidated two California statutes requiring specific diversity mandates for California public company boards (Senate Bill 826 “SB 826” and Assembly Bill 979 “AB 979”). The...more

Allen Matkins

SEC Doesn't Define It, But Insists That Every Issuer Have One

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This spring, John Jenkins reported that the Securities and Exchange Commission staff now declines to declare effective a registration statement if the issuer does not provide a physical address on the cover page of its...more

CDF Labor Law LLP

Los Angeles County Trial Court Strikes Down Another California Board Diversity Law

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Last month, on May 13, Los Angeles County Superior Court Judge Maureen Duffy-Lewis ruled that SB 826, which requires publicly held California corporations with a principal executive office in California to follow gender...more

Mintz - Securities & Capital Markets...

California Board Diversity Statute Unconstitutional

On April 1, 2022, the Los Angeles County Superior Court granted summary judgment in favor of the plaintiff in Crest v. Padilla, a case challenging the constitutionality of Section 301.4 of the California Corporations Code, a...more

Sheppard Mullin Richter & Hampton LLP

Los Angeles Superior Court Invalidates California Board Diversity Statute, Rendering It Ripe for Review by the California Court of...

In Crest v. Padilla, No. 20STCV37513 (Cal. Super. Apr. 1, 2022), the Superior Court of California for the County of Los Angeles (Green, J.) declared that Section 301.4 of the California Corporations Code is unconstitutional...more

Allen Matkins

California Secretary of State's Report Highlights California's Want of Appeal

Allen Matkins on

The California Secretary of State has recently published her report under California's statutes imposing gender and racial/ethnic quotas on the boards of directors of publicly held corporations having their principal...more

Procopio, Cory, Hargreaves & Savitch LLP

Pending California Legislation Could Build Upon—Or Conflict With—Forthcoming SEC Disclosure Rules

Proposed legislation currently in the California Senate seeking to impose new reporting requirements for emissions arrives as the U.S. Securities and Exchange Commission (SEC) is considering climate-related public company...more

Allen Matkins

Can A Corporation Issue Shares That Are Convertible At Its Own Option?

Allen Matkins on

May a California corporation issue shares that are convertible ex proprio motu into shares of any other class or series or any other of its securities?  The answer is "yes" but only if that right is provided in the articles...more

Allen Matkins

Some Differences Between "Publicly Held" and "Publicly Traded" Corporations

Allen Matkins on

In this post, I questioned the accuracy of the California Secretary of State's definition of "publicly held corporation", a term that is used in both the female and underrepresented communities quota statutes.  Cal. Corp....more

Allen Matkins

California Bill Would Require Publicly Traded Corporations To Make Environmental Disclosures

Allen Matkins on

California currently imposes unique disclosure requirements on publicly traded corporations.  See California Joins The Parade: The California Corporate Disclosure Act, 16 Insights 21 (2002).  These disclosures are at best...more

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