The judge overseeing the lawsuit filed by nine plaintiffs in Texas against the Department of Labor’s fiduciary rule denied an emergency request by the groups to stop the rule from taking effect while they take their case to the U.S. Court of Appeals for the Fifth Circuit.
Judge Barbara M.G. Lynn ruled Monday that the plaintiffs – which include the U.S. Chamber of Commerce, the Securities Industry and Financial Markets Association and the Financial Services Institute – failed to satisfy the requirements for an injunction pending appeal.
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