SEC Unable to Correct Defects of Share Repurchase Disclosure Modernization Rule
JD Supra: Mergers
DECEMBER 6, 2023
On November 22, the Securities and Exchange Commission (SEC) issued an order postponing the Share Repurchase Disclosure Modernization Rule (the Repurchase Rule). The SEC’s announcement followed the U.S. Court of Appeals for the Fifth Circuit’s finding that the Repurchase Rule was “arbitrary and capricious” and violated the Administrative Procedure Act.
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