Latest news with #InterfaithCenter
Reuters
5 days ago
- Business
- Reuters
SEC wins dismissal of lawsuit challenging tighter rules on shareholder proposals
June 5 (Reuters) - A federal judge on Thursday dismissed a lawsuit challenging U.S. Securities and Exchange Commission rule changes that made it harder for shareholders to file proposals at companies' annual meetings, including for reforms on environmental, social and governance (ESG) issues. U.S. District Judge Reggie Walton in Washington, D.C. rejected arguments that the SEC arbitrarily and capriciously adopted the changes, including on the alleged pretext it supported corporate opposition to reforms on contentious issues such as climate change and workplace diversity. The SEC was required to determine whether the changes would "promote efficiency, competition, and capital formation, and it did so," Walton wrote in a 64-page decision. Adopted in November 2020, late in Republican President Donald Trump's first White House term, the SEC rule changes increased how much stock shareholders had to own, and how long they had to own it, before submitting proposals. The changes also added requirements for resubmitting proposals that shareholders had rejected in the last three years. Plaintiffs in the June 2021 lawsuit included the Interfaith Center on Corporate Responsibility, which represents more than 300 faith-based institutional investors, shareholder advocacy group As You Sow and shareholder advocate James McRitchie. They said the SEC, before adopting the rule changes, failed to quantify the benefits of ESG and other shareholder proposals, or address the expected loss of "billions of dollars in long-term shareholder value" by adding restrictions. In a joint statement following Walton's decision, the plaintiffs said the changes "only serve to hurt shareholders and companies alike. Despite this decision, shareholders will continue to engage with corporations on their environmental and social impacts." The SEC declined to comment. In seeking the lawsuit's dismissal, the SEC said the rule changes would help ensure that proposals reflect the interests of all shareholders, and that resubmitted proposals could receive levels of support "likely to lead to company action." SEC commissioners voted 3-2 along party lines for the changes, with Republican appointees in the majority. The regulator defended the changes during Democratic President Joe Biden's administration. The U.S. Chamber of Commerce supported the SEC's position. The case is Interfaith Center on Corporate Responsibility et al v SEC, U.S. District Court, District of Columbia, No. 21-01620.
Yahoo
09-05-2025
- Politics
- Yahoo
SCSU students optimistic over new American pope
NEW HAVEN, Conn. (WTNH) — Thousands were at the Vatican on Thursday to witness the election of a new pope. Cardinal Robert Francis Prevost of Chicago elected to be the 267th pope and he chose the name Leo. This makes him the first American to become the pontiff. Connecticut church leaders, lawmakers react to election of new pope Pope Leo XIV made his first appearance on the balcony of St. Peter's Basilica Thursday, while delivering his first blessing. He emphasized peace several time and says he wants to pick up where the late Pope Francis left off. Catholics from around Connecticut also reacting to the new American pope. On the Southern Connecticut State University campus at the Interfaith Center students were very excited, very joyful very happy at the new pope, but surprised by a new American pope. 'The symbolism of Catholic globally, coming together in the Cardinals, choosing an American pope, was not lost on us,' SCSU Newman Society vice president Jack Abbot said. Students with the Newman Society at SCSU are celebrating the new American Pope, and the hope that he brings to the future of America. 'America needs unity right now, and I hope that it will unify us with other countries,' said SCSU Newman Society president Sydney Crockett. 'I think the American pope is nice, especially with a more controversial election of our current president and the stirring pot that can be American politics,' added SCSU Newman Society secretary Pierce Kozlowski. Father Anthony Federico is from the Hartford Archdiocese, and he talked to News8 from Rome just after returning from the Vatican. 'I'm hearing all of these different languages and seeing the flags and banners from all over the world, a very festive atmosphere, jubilant,' Federico said. He booked a trip to the Vatican months ago and was only in Italy for two days, but was there when they named a new pope. 'There was nothing like the surge of excitement that rolled through Saint Peter's Square when the white smoke came out, there was just like this exuberant exaltation of so many people, Federico said. In Hartford there were flowers and bunting at the Cathedral of Saint Joseph as parishioners came in for a celebratory mass. 'My hope is that he will show to the world a side of America that is merciful, charitable, and generous and peaceful,' Archbishop Christopher Coyne of the Archdiocese of Hartford said. As students continue celebrate a new American pope, they're going to remember next year as they reconvene at school, and move forward, keeping his mission in mind. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
