U.S. Court of Appeals for the Fifth Circuit

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U.S. Chamber Sues the Securities and Exchange Commission Over Stock Buyback Rule To Protect Investors, Businesses, U.S. Chamber Sues SEC Over Stock Buyback Rule

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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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