5th Circuit Finds SEC Failed To Justify Need For New Stock Buyback Disclosure Rule

(November 10, 2023, 10:21 AM EST) -- NEW ORLEANS — The Securities and Exchange Commission failed to adequately illustrate that stock buybacks pose a problem to investors in a new rule requiring companies to disclose why they are buying their own stocks back, a panel of the Fifth Circuit U.S. Court of Appeals found, giving the SEC 30 days to fix errors in the rule....