Following up on this blog about the SEC’s new climate rules being temporarily stayed by the 5th U.S. Circuit Court of Appeals last Friday, a venue has now been selected via lottery by the Judicial Panel on Multidistrict Litigation – and the outstanding federal cases have been consolidated for the Eighth Circuit to decide the case. The timing of the disposition of this consolidated case is unknown.

Here are three things to know, pulled from this Bloomberg Law article:

  1. This consolidates nine legal challenges (so far) made across six courts
  2. Of the St. Louis-based court’s 17 judges, only one was appointed by a Democratic president
  3. Competing petitioners argue SEC went too far – or not far enough
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Photo of Broc Romanek Broc Romanek

As a strategist for the firm’s Corporate & Securities practice, Broc Romanek has a deep understanding of the regulatory and environmental, social, and governance (ESG) marketplace. Prior to joining Perkins Coie, Broc served as editor at TheCorporateCounsel.net, CompensationStandards.com, and DealLawyers.com, where he oversaw…

As a strategist for the firm’s Corporate & Securities practice, Broc Romanek has a deep understanding of the regulatory and environmental, social, and governance (ESG) marketplace. Prior to joining Perkins Coie, Broc served as editor at TheCorporateCounsel.net, CompensationStandards.com, and DealLawyers.com, where he oversaw and managed coverage on issues related to ESG, corporate governance, executive pay, deals, and market trends and analysis.

In addition to his nearly two decades of working as a journalist and publisher, Broc served as assistant general counsel at a Fortune 50 company, worked in the Office of Chief Counsel of the U.S. Securities and Exchange Commission’s (SEC) Division of Corporation Finance, was a counselor to former SEC Commissioner Laura Unger, and worked in private practice. He also is the author, or co-author, of four legal treatises, and has authored several books focused on the legal industry.