Second Circuit Declines To Adopt “Extreme Departure” Standard For Materiality of Omissions In Public Filings, SEC Allows All Companies’ Draft Registration Statements To Be Reviewed Privately, and Fourth Circuit Holds That EPA May Not Be Required To Report Regulatory Impact On Coal Sector Employment

by Jeanne R. Solomon and Timothy Piscatelli

This week’s corporate law news roundup includes discussions of the Second Circuit’s decision declining to adopt the “extreme departure” standard for materiality of omissions in public filings, the SEC’s expanding private review of draft registration statements to all companies under the JOBS Act, and the Fourth Circuit’s ruling that the Environmental Protection Agency has no specific duty to report the regulatory impact on coal sector employment.

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SEC Suspends Enforcement of Certain Provisions of Conflict Minerals Rule, Increases Certain JOBS Act Caps and Releases Compliance and Disclosure Interpretations Relating to Regulation A Offerings

by Shudan Zhou and Jeanne Solomon

This week’s corporate law news roundup includes discussions of the SEC’s suspended enforcement of some of the conflict minerals rule’s most onerous provisions; the SEC’s action to increase the JOBS Act caps to adjust for the inflation that resulted in a $1.07 million crowdfunding cap and $1.07 billion cap on revenues of “emerging growth companies”; and the SEC’s newly released Compliance and Disclosure Interpretations (C&DIs) on Regulation A offerings.

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