Majority Denies States, AARP Motions To Intervene In DOL Fiduciary Rule Dispute

Mealey's (May 4, 2018, 11:21 AM EDT) -- NEW ORLEANS — A majority of the Fifth Circuit U.S. Court of Appeals on May 2 denied motions by California, New York, Oregon and AARP to intervene in a majority ruling that reversed a Texas federal court's decision rejecting business groups' challenges of the U.S. Department of Labor's "fiduciary rule" and vacated the rule in toto (Chamber of Commerce of the United States of America, et al. v. United States Department of Labor, et al., American Council of Life Insurers, et al. v. United States Department of Labor, et al., Indexed Annuity Leadership Council, et al. v. R. Alexander Acosta, et al., No. 17-10238, 5th Cir.)....