Twin Rivers Paper Co. v. SEC. & Exch. Comm'n
Court of Appeals for the D.C. Circuit
1Opinion of the Court
Katsas, Circuit Judge:
In 2018, the Securities and Exchange Commission adopted a rule allowing investment companies to post shareholder reports online and mail paper copies to shareholders upon request. The petitioners-a consumer-advocacy organization and representatives of the paper industry-argue that the SEC did not adequately consider the interests of shareholders who prefer reports in paper form. Because the consumer organization lacks constitutional standing and the paper-industry representatives assert interests beyond those protected or regulated by the securities laws, we deny the…
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