Mayer Brown Supreme Court & Appellate Practice

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