US Circuit Court of Appeals Issues Decision on Conflict Minerals

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04/17/2014

On April 14, the US Circuit Court of Appeals for the District of Columbia issued a decision in the conflict minerals case that requires at least one aspect of the rule be revisited. The three-judge panel found that a central part of the rule violates the First Amendment by requiring that companies describe their products as not being "DRC [Democratic Republic of the Congo] conflict free". It is too soon to know how the SEC and lower court will react to the ruling. For now, one element of the rule has been nullified, but the May 31, 2014 deadline remains in place for the others.