Conflict Minerals’ Emergency Appeal Denied
Despite an attempt to file an emergency motion for a stay of the U.S. Securities and Exchange Commission’s (“SEC”) entire Conflict Minerals rule, the U.S. Court of Appeals for the District of Columbia Circuit (“the Court”) has rejected the request. While the Court previously ruled the Conflict Minerals’ final rule was a violation of the U.S. Constitution’s First Amendment, the SEC later issued a partial stay that mandates companies to use language disclosing whether any of their products are “DRC conflict free”. The SEC also released guidance to continue implementing the provision requiring businesses to file their conflict mineral reports by June 2nd.
As a result, the plaintiffs requested an emergency motion for the entire rule to stay until all questions were resolved by the lower district court. The Court, however, declined, and kept the SEC’s June 2nd deadline in effect.