Forum

U.S. Court of Appeals for the Fifth Circuit

Case Status

Decided

Docket Number

23-60255

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Additional Information

U.S. Chamber Sues the Securities and Exchange Commission Over Stock Buyback Rule U.S. Chamber Wins Legal Victory Against SEC on Stock Buybacks

Case Updates

Fifth Circuit holds that the Securities and Exchange Commission acted arbitrarily and capriciously, in violation of the Administrative Procedure Act, in promulgating its share-repurchase rule

October 31, 2023

Opinion

U.S. Chamber coalition files reply brief in support of petition challenging the Securities and Exchange Commission’s final share-repurchase rule

August 23, 2023

Click here to view the brief.

U.S. Chamber and coalition file opening appellate brief challenging the Securities and Exchange Commission’s final share-repurchase rule, which requires companies to disclose daily repurchase activity and to provide justification for their repurchase activity

July 03, 2023

Click here to view the brief.

U.S. Chamber files lawsuit, with co-plaintiffs Texas Association of Business and Longview Chamber, against the Securities and Exchange Commission’s final share-repurchase rule requiring companies to disclose daily repurchase activity and to provide justification for their repurchase activity

May 12, 2023

The lawsuit seeks to protect returns for investors as well as the ability of companies to make decisions free from government micromanagement.

Noel J. Francisco, James Burnham, Brian C. Rabbitt, Brinton Lucas, Charles E.T. Roberts, and Ryan M. Proctor of Jones Day and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.

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