Section: March 5, 2026 | Vol 31, Issue 9
Legal Turmoil Resulting from SEC’s New No-Action Procedures Continues
Proponents continue to file lawsuits against companies that refuse to include their shareholder proposals on proxy ballots, and companies are settling some of the suits already filed against them by disgruntled proponents.
Vanguard Settles Lawsuit Claiming it Colluded to Constrict Coal Market
Vanguard agreed to pay 11 Republican-led states $29.5 million to settle a lawsuit filed by those states accusing the asset manager, along with BlackRock and State Street, of colluding to “artificially constrict” the coal market.
Suit Against Retirement Fund Says it Violated ERISA by Exposing Participants to Climate Risks
An individual whose retirement savings are invested in Cushman Wakefield’s 401(k) filed suit against the commercial real estate firm claiming it mismanaged the retirement plan by selecting an underperforming fund that exposed investors to climate-related risks.
California Adopts Climate Disclosure Rule
Barring intercession from a court, August 2026 will mark the beginning of GHG emissions reporting from companies with revenue exceeding $1 billion and business activity in California.
SEC Adopts Amendments Requiring FPIs to Comply with Insider Reporting Requirements
The SEC on February 27 adopted final amendments to various forms and rules that implement the Holding Foreign Insiders Accountable Act. That legislation contains a provision requiring foreign private issuers (FPIs) to comply with insider reporting obligations under Section 16(a) of the Exchange Act.