CHAMBER OF COMMERCE OF THE UNITED STATES; BUSINESS ROUNDTABLE; TENNESSEE CHAMBER OF COMMERCE AND INDUSTRY, v. SECURITIES AND EXCHANGE COMMISSION; GARY GENSLER, in his official capacity as Chairman of the Securities and Exchange Commission - Articles

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CHAMBER OF COMMERCE OF THE UNITED STATES; BUSINESS ROUNDTABLE; TENNESSEE CHAMBER OF COMMERCE AND INDUSTRY, v. SECURITIES AND EXCHANGE COMMISSION; GARY GENSLER, in his official capacity as Chairman of the Securities and Exchange Commission

Posted by: Azya Thornton on Sep 10, 2024

Court: 6th Circuit Court (Published Opinions)

Attorneys 1: ARGUED: Jeffrey B. Wall, SULLIVAN & CROMWELL LLP, Washington, D.C., for Appellants.

Attorneys 2: ARGUED: Daniel E. Matro, SECURITIES AND EXCHANGE COMMISSION, Washington, D.C., for Appellees.

Attorneys 3: ON BRIEF: Jeffrey B. Wall, Elizabeth A. Rose, Leslie B. Arffa, Stephanie M. Kelly, SULLIVAN & CROMWELL LLP, Washington, D.C., Matthew A. Schwartz, SULLIVAN & CROMWELL LLP, New York, New York, for Appellants.

Attorneys 4: ON BRIEF: Daniel E. Matro, SECURITIES AND EXCHANGE COMMISSION, Washington, D.C., for Appellees.

Attorneys 5: ON BRIEF: Donald B. Verrilli, Jr., Elaine J. Goldenberg, MUNGER, TOLLES & OLSON LLP, Washington, D.C., Virginia Grace Davis, MUNGER, TOLLES & OLSON LLP, San Francisco, California, Christopher A. Bates, OFFICE OF THE UTAH ATTORNEY GENERAL, Salt Lake City, Utah, Paul W. Hughes, MCDERMOTT WILL & EMERY LLP, Washington, D.C., Jonathan F. Cohn, LEHOTSKY KELLER COHN LLP, Washington, D.C., for Amici Curiae.

Judge(s): GIBBONS, BUSH, and DAVIS, Circuit Judges

Court Appealed: United States District Court for the Middle District of Tennessee at Nashville

JULIA SMITH GIBBONS, Circuit Judge. The United States Chamber of Commerce, Business Roundtable, and the Tennessee Chamber of Commerce and Industry sued the Securities and Exchange Commission and its Chairman, alleging that the Commission’s partial rescission of a prior regulation failed to meet the procedural and substantive demands of the Administrative Procedure Act. The district court granted summary judgment to the Commission, and we affirm.

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