Corner Post, Inc. v. Board of Governors of the Federal Reserve System, No. 22-1008
Today, the Supreme Court held in a 6-3 decision that the six-year time limit to challenge a federal agency regulation under the Administrative Procedure Act (APA) does not start to run until the plaintiff is injured by the regulation.
In…
Loper Bright Enterprises v. Raimondo, No. 22-451; Relentless, Inc. v. Department of Commerce, No. 22-1219
Today, the Supreme Court issued a 6-3 decision overruling Chevron, the decision holding that federal courts should defer to an administrative agency’s reasonable interpretation of an ambiguous statute that the agency administers. Going forward, courts are required…
SEC v. Jarkesy, No. 22-859
Introduction: In a decision with significant, wide-ranging consequences for federal agency enforcement authority, the Supreme Court today held that the Seventh Amendment bars the Securities and Exchange Commission (SEC) from using in-house administrative adjudications to impose civil penalties for securities-fraud violations. Those actions must be brought in federal court…
Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, No. 20-222
On June 21, 2021, the Supreme Court held that in a securities-fraud class action, the district court should consider whether the alleged misrepresentation is generic in determining whether the misrepresentation affected the price of the security at issue. The Court also held that…
