Liberty Energy praises appeals court stay of SEC climate rule [Seeking Alpha]
LIBERTY ENERGY CORP (LBYE)
NASDAQ:AMEX Investor Relations:
globenewswire.com/news-release/2012/07/05/272400/260812/en/liberty-energy-corp-retains-resultz-media-group-for-investor-relations-services.html
Company Research
Source: Seeking Alpha
Circuit Court of Appeals temporarily halting new rules issued by the SEC requiring public companies to disclose climate-related risks. The stay came just days after Liberty Energy ( LBRT ) and Nomad Proppant Services had filed a lawsuit challenging the rules, arguing the SEC lacked the authority to create a climate rule, and the rule itself was "arbitrary and capricious" and violated the First Amendment. The companies also said the rule would expose them to litigation and pointed out the regulator has estimated compliance would collectively cost companies more than $4B. "We respect the SEC and their core mission of protecting investors from financial fraud, [but] we chose not to sit idle when political forces pushed the SEC beyond its mission and into the realm of climate and environmental matters. That is not something the SEC can do without proper authorization by Congress," Liberty ( LBRT ) CEO Chris Wright said. The court action prohibits the SEC from enforcing any part of
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