SEC Conflict Minerals Disclosure Rule Survives Challenge

Law360, Los Angeles (July 23, 2013, 7:48 PM EDT) -- A Washington federal judge on Tuesday rejected a legal challenge brought by the U.S. Chamber of Commerce and two business groups over the U.S. Securities and Exchange Commission's disclosure requirement for companies using “conflict minerals,” saying the plaintiffs' claims lack merit.

The decision comes after the Chamber, National Association of Manufacturers and Business Roundtable urged the court earlier this month to nix the disclosure requirement, claiming the rule imposes a “scarlet letter” on companies without accomplishing its foreign policy goals. Although the SEC said the rule will...
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