US Chamber of Commerce Sues SEC to Block Share Buyback Rule

The US Chamber of Commerce and other business groups have sued to block the SEC’s recent rule that requires publicly traded companies to disclose more information about stock buybacks.

The Securities and Exchange Commission’s rule risks airing important managerial decisions and violates the First Amendment, the Chamber said. The business groups are also challenging the rule under the Administrative Procedure Act.

Joining the Chamber in the suit is the Texas Association of Business and the Longview Chamber of Commerce.

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The stock buyback rule doesn’t protect ...