Infrastructure Petitioners Tell High Court SEC Rule Not Enforceable By Investors

Mealey's (November 15, 2023, 1:44 PM EST) -- WASHINGTON, D.C. — An infrastructure company and other petitioners argue in their U.S. Supreme Court merits brief that a Securities and Exchange Commission rule requiring disclosure of management analysis of a company’s financial situation is unsuitable to form the basis of a private claim under federal securities laws, in the company’s dispute with an investment firm over alleged misstatements about oil regulations....