Business groups’ First Amendment challenge to a Securities and Exchange Commission rule on stock buybacks threatens far-reaching consequences for the regulator’s efforts to require disclosure of corporate information.
Led by the US Chamber of Commerce, the groups have sued to vacate the rule, arguing the requirement that companies disclose their rationale for repurchasing stock shares violates the First Amendment’s protections against compelled speech.
Source: SEC Disclosure Rules Face ‘Sea Change’ Challenge From Business
