U.S. Securities and Exchange Commission seal in Washington. Photo: Diego M. Radzinschi/ALM SEC's Proposed Climate Disclosure Rule Exceeds Agency's Authority, House Republicans Say
Democrats counter that federal law permits the agency to require environmental disclosures.
January 18, 2024 at 06:13 PM
4 minute read
Regulation
The U.S. Securities and Exchange Commission lacks the legal authority to mandate that publicly traded companies disclose greenhouse gas emissions, House Republicans said Thursday in criticizing a proposed SEC rule.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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