5th Circuit Vacates SEC Stock Buyback Rule After Deadline To Fix Passes

(December 20, 2023, 1:52 PM EST) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on Dec. 19 vacated a Securities and Exchange Commission rule regarding stock buybacks after the SEC failed to cure errors in the rule identified by the Fifth Circuit by a Nov. 30 deadline, granting a motion filed by a group of business organizations requesting the vacatur of the rule....