Firm files emergency motion in Fifth Circuit seeking to stay the rule

Washington, D.C. – Boyden Gray PLLC announced today that it had filed a lawsuit on behalf of Liberty Energy and Nomad Proppant Services against the Securities and Exchange Commission’s new 886-page climate disclosure rule, which imposes climate exceptionalism and drastically expands the scope of required disclosures for many publicly traded companies. The firm’s challenge the first such suit to be docketed against the SEC’s rule.

On Friday, the firm also filed an emergency motion asking the Fifth Circuit to immediately stay the rule from going into effect. Again, the firm was the first in the country to seek such relief. The motion explained: “The Rule is unique in the history of the SEC. Never before has it claimed the power to demand such broad ‘climate’-related disclosures, which will occupy a significant portion of public companies’ SEC filings and subject them to increased enforcement and litigation. In fact, the SEC stated for nearly 50 years that it lacks the power to do so absent a change in statutory authority—which has not materialized.”

“Boyden Gray PLLC  is pleased to represent Liberty Energy and Nomad Proppant Services in the first lawsuit against the SEC’s new climate rule, and in the first request asking a Court to stay that rule,” said R. Trent McCotter, a Partner at Boyden Gray.  

In 2022, Boyden Gray PLLC submitted a comment to the SEC, arguing that the then-proposed rule was unlawful and designed to pressure companies to take action to combat climate change. The SEC finalized the rule anyway.

Boyden Gray PLLC provides clients with strategic counsel, regulatory engagement, and impact litigation on the most difficult issues across law, public policy, and politics. The firm advises clients—including corporations, shareholders, trade associations, and workers—across a range of sectors, including energy, financial services, healthcare, and nonprofit. Its attorneys are all experienced litigators, and the firm regularly represents clients before federal trial and appellate courts, including parties and amici before the Supreme Court of the United States. 

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