US Chamber Fights SEC Proxy Access Rule In DC Circ.

Law360, New York (September 29, 2010, 4:11 PM EDT) -- The U.S. Chamber of Commerce launched a legal challenge Wednesday to the U.S. Securities and Exchange Commission's new proxy access rule, asking a federal appeals court to put the planned measure on hold while the suit goes forward.

The U.S. Chamber, along with the Business Roundtable, petitioned the U.S. Court of Appeals for the District of Columbia Circuit to review whether the SEC overlooked evidence essential to a cost-benefit analysis of the policy.

Amy Goodman and Eugene Scalia of Gibson Dunn & Crutcher LLP and Robin...
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