July 24, 2013
The SEC Wins a Case! Conflict Minerals Rules Survive!
Breaking a long streak of losing major cases, the US District Court for DC issued this opinion yesterday rejecting the summary judgment motion of the plaintiffs (Chamber of Commerce and NAM) – and upholding the SEC’s (& intervenor Amnesty International’s) cross-motion for summary judgment.
This means that the SEC’s rules go forward as they currently exist (ie. no de minimis exception, etc.). Even if the plaintiffs appeal, with the first report due May 31, 2014, all companies should be operating on the assumption that the rules are indeed the rules and start preparing now. We are posting memos in our “Conflict Minerals” Practice Area.
Section 16 Filings Facelift: The SEC’s New Edgar Search Page
Last month, I blogged that the SEC’s new Edgar search page received its first facelift in a decade. Now the tool has been further refined so that searches can easily include – or exclude – Section 16 filings. Simply click the “More Options” option that appears underneath the search box. Nice!
Check out Alan Dye’s Section16.net Blog for analysis on how the Supreme Court’s recent DOMA decision might impact Section 16 filings…
More on “The Mentor Blog”
We continue to post new items daily on our blog – “The Mentor Blog” – for TheCorporateCounsel.net members. Members can sign up to get that blog pushed out to them via email whenever there is a new entry by simply inputting their email address on the left side of that blog. Here are some of the latest entries:
– Congress to FASB: “Do As I Say, Not As I Do”
– Facebook IPO Derivative Ruling: Cure for Multiforum Madness?
– Don’t You Love It When Officers Swear During Earnings Calls!
– Chancellor Strine Proposes New Approach to Multijurisdictional Shareholder Litigation
– Study: XBRL Might Be Irrelevant to Investors & Analysts
– No “Dummy Directors”: DE Court Refuses to Dismiss Loyalty Claims Against Outside Directors for Failure to Monitor
– Freedman vs. Novell: The Latest Adventures of the Business Judgment Rule
– Survey: JOBS Act Has No Major Impact on IPO Market (So Far)
– Broc Romanek