Proxy Access Ruling Could Spur SEC Rule Challenges

Law360, New York (July 22, 2011, 12:25 PM EDT) -- The D.C. Circuit's invalidation of a U.S. Securities and Exchange Commission rule that would have made it easier for shareholders to replace corporate board members may lead to more challenges of securities regulations, attorneys say.

“Anybody who has a beef with an SEC rule and has the resources to mount a lawsuit, that could look pretty attractive,” said David M. Lynn, the co-chairman of Morrison & Foerster LLP's public companies and securities practice group.

In a highly anticipated and hotly worded opinion issued Friday, the D.C....
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