
Risk
SEC’s Climate Risk Disclosure Rule Faces 3 Lawsuits Within 1 Week of Finalization
The two initial complaints were filed by 19 Republican-leaning states and, separately, the Sierra Club.
The regulator alleges the now-defunct HyperFund was a ‘pyramid and a Ponzi scheme.’
The Nigerian businessman with claimed assets of more than $7 billion was widely reported to have been close to buying English soccer club Sheffield United.
Premium Point had inflated the value of private funds it advised by hundreds of millions of dollars to hide poor performance.
Prime Group allegedly did not disclose that $18 million in fund fees went to a firm wholly owned by its CEO.
In dissent, Commissioner Peirce said the new rules will harm investors, while Commissioner Uyeda called them ‘arbitrary and capricious.’
Environmental and social resolutions boosted the number of filings this spring, ISS says, while anti-E&S resolutions also shot up.