Disclosure

California Court Upholds Climate Disclosure Laws Amid Legal Challenges from Business Groups

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Sacramento, California — In a significant development for climate policy, two pivotal laws, SB 253 and SB 261, were enacted in October 2023 as part of California’s Climate Accountability Package. These laws impose requirements on companies operating in the state with annual revenues of at least $500,000 under SB 253 and $1 million under SB 261, mandating them to publicly disclose climate-related information. Specifically, SB 253 necessitates the reporting of greenhouse gas emissions across all scopes, while SB 261 requires a biennial assessment of climate-related fiscal impacts to be submitted to the California Air Resources … Read more

Penn State Intensifies Lobbying Efforts Amid Opaque Disclosure Laws: Who’s Really Pulling the Strings?

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State College, Pennsylvania — As Penn State University intensifies its lobbying efforts, questions are arising about the transparency of its activities and the potential implications for state legislation. The lack of comprehensive disclosure laws makes it challenging to ascertain the specific interests and entities that the university is aiming to influence. In recent years, many institutions, including Penn State, have ramped up their lobbying efforts, particularly as funding and policy decisions become increasingly vital. The university’s ascent in these lobbying initiatives has coincided with growing concerns over disclosure practices, raising alarm among watchdog organizations and … Read more

Direct Digital Holdings Prevails in Shareholder Class Action Lawsuit, Court Rules Disclosure Claims Unfounded

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HOUSTON — Direct Digital Holdings, Inc., a prominent player in the advertising technology sector, successfully secured a motion to dismiss a class action lawsuit brought by shareholders in the U.S. District Court for the Southern District of Texas. The ruling may be subject to appeal, but the court determined that the allegations of misleading statements in the company’s public disclosures lacked merit. The lawsuit accused Direct Digital Holdings of providing false and ambiguous information in its statements. However, the court concluded that none of the challenged statements could reasonably be considered materially false or misleading, … Read more

Judge Upholds Grand Jury Secrecy in Ghislaine Maxwell Case, Dismisses Trump Administration’s Bid for Disclosure

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A U.S. District Court in New York has decided against the Trump administration’s request to make public grand jury materials tied to the Ghislaine Maxwell sex trafficking case. Judge Paul A. Engelmayer announced the ruling on Monday, emphasizing the importance of maintaining grand jury secrecy. In his decision, Engelmayer stated that unsealing the materials could undermine the established “special circumstances” doctrine, which has traditionally warranted the release of such information only under rare conditions involving unique witness testimony with significant public or historical relevance. The judge expressed concerns that permitting access to these materials would … Read more