As expected, U.S. Chamber of Commerce
will try to block the SEC's reapproved independent director and fund governance requirements. The trade group filed a petition for a permanent injunction against the rule in the D.C. Circuit Court of Appeals, reports the Wall Street Journal
According to the Journal, Eugene Scalia
, the Chamber's counsel, said in a statement that the SEC "has engaged in an unprecedented, headlong rush to rubber-stamp its earlier decision, without the thorough, deliberate, and open-minded consideration demanded by the unanimous court of appeals, and by the law."
Stay ahead of the news ... Sign up for our email alerts now