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Statutory Interpretation Securities Exchange Act of 1934 Securities and Exchange Commission (SEC)

Cadwalader, Wickersham & Taft LLP

D.C. Circuit Gives Proxy Advisory Firms a Pass

Appellate Court Holds That Firms’ Voting Recommendations Are Not “Solicitations” Under Section 14(a) of the Securities Exchange Act of 1934- On July 1, 2025, the U.S. Court of Appeals for the D.C. Circuit issued an...more

Sheppard Mullin Richter & Hampton LLP

Ninth Circuit Clarifies SEC Disgorgement Standard, Aligning with the First and Fifth Circuits and Disagreeing with the Second...

In SEC v. Sripetch, No. 24-3830, 2025 WL 2525848 (9th Cir. Sept. 3, 2025), the United States Court of Appeals for the Ninth Circuit affirmed a $2.25 million disgorgement award obtained by the United States Securities and...more

ArentFox Schiff

Fifth Circuit Vacates SEC’s Approval of Nasdaq’s Diversity Rules

ArentFox Schiff on

On December 11, 2024, the US Court of Appeals for the Fifth Circuit ruled that the Securities and Exchange Commission (SEC) lacked statutory authority to approve Nasdaq’s board diversity rules. Subject to certain exceptions,...more

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