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This case arose from an agreement the parties entered into for the sale of appellant's radio station to Entercom upon approval by the FCC. The DC Circuit denied appellant's appeal and dismissed as moot his central claim challenging Entercom's legal eligibility to acquire the station. The court held that appellant's challenge to the FCC's application of the pre-2002 Order's local-market definition was moot and his remaining challenges to the FCC decision lacked merit. Accordingly, the court dismissed in part and denied in part. View "Stolz v. FCC" on Justia Law

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These consolidated petitions challenged the EPA's final rule entitled "Implementation of the 2008 National Ambient Air Quality Standards for Ozone: State Implementation Plan Review Requirements." The DC Circuit granted Environmental Petitioners' petition and vacated as to waiver of the statutory attainment deadlines associated with the 1997 NAAQS; removal of New Source Review and conformity controls from orphan nonattainment areas; grant of permission to states to move anti-backsliding requirements for orphan nonattainment areas to their list of contingency measures based on initial 2008 designations; waiver of the requirement that states adopt outstanding applicable requirements for the revoked 1997 NAAQS; waiver of the 42 U.S.C. 7505a(a) maintenance plan requirement for orphan nonattainment areas; creation of the "redesignation substitute"; creation of an alternative baseline year option; elimination of transportation conformity in orphan maintenance areas; and waiver of the requirement for a second 10-year maintenance plan for orphan maintenance areas. The court denied Environmental Petitioners' petition in all other respects. View "South Coast Air Quality Management District v. EPA" on Justia Law

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The DC Circuit affirmed the district court's grant of summary judgment in favor of the Office of Foreign Assets Control and the Department of state in an action alleging disclosures of plaintiff's personal identifying information in violation of the Privacy Act. The court held that plaintiff's personal identifying information was released pursuant to a valid routine-use notice. In this case, the release of the information was compatible with the purpose for which the information was collected. The court explained that the purpose for collecting plaintiff's identifying information – to investigate whether to designate him for economic sanctions and to implement the sanctions – was precisely aligned with the purpose of disclosure – to implement the sanctions by publishing the information to the public. View "Chichakli v. Tillerson" on Justia Law

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The DC Circuit affirmed the district court's grant of summary judgment in favor of the Office of Foreign Assets Control and the Department of state in an action alleging disclosures of plaintiff's personal identifying information in violation of the Privacy Act. The court held that plaintiff's personal identifying information was released pursuant to a valid routine-use notice. In this case, the release of the information was compatible with the purpose for which the information was collected. The court explained that the purpose for collecting plaintiff's identifying information – to investigate whether to designate him for economic sanctions and to implement the sanctions – was precisely aligned with the purpose of disclosure – to implement the sanctions by publishing the information to the public. View "Chichakli v. Tillerson" on Justia Law

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LSTA represents firms that serve as investment managers of open-market collateralized loan obligations (CLO). LSTA challenged the defendant agencies' decision, embodied in the Credit Risk Retention Rule, to apply the credit risk retention requirements to managers of CLOs in section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The DC Circuit agreed with LSTA that, given the nature of the transactions performed by CLO managers, the language of the statute invoked by the agencies does not encompass their activities. Because CLO managers were not "securitizers" under section 941, the managers need not retain any credit risk. Accordingly, the court reversed the judgment of the district court and remanded with instructions to grant summary judgment to LSTA. View "The Loan Syndications and Trading Assoc. v. SEC" on Justia Law

Posted in: Securities Law

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Plaintiff, individually and through his consulting business, filed suit against defendants, alleging reputational injury caused by reports from the DOL-OIG and the OPM. The DC Circuit reversed the district court's denial of a motion to dismiss claims against the Bivens Defendants, holding that the district court should have decided that availability of a Bivens remedy as a threshold question gating whether the Bivens Defendants must defend against this suit in their personal capacities. The court reviewed that question of law directly and held that no Bivens remedy was available for plaintiff's claims. The court explained that Congress has provided significant remedies for disputes between contractors and the government entities that engage them, as well as for persons aggrieved by the government's collection, maintenance, and dissemination of information. Because of these alternative remedies and the comprehensive remedial schemes that they represent, the court declined to extend Bivens for plaintiff's claims. View "Liff v. Office of Inspector General" on Justia Law

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The DC Circuit dismissed KCC's petition for review, holding that KCC has not suffered an injury in fact sufficient to establish standing. KCC asserted that the Commission acted unlawfully by approving formula rates—which help determine the electric rates charged by public utilities to consumers in FERC jurisdictions—for future public utilities to use in operating electric transmission facilities. The court held that KCC failed to affirmatively demonstrate how it was adversely affected by the FERC's order and there was no substantial probability that the harms KCC identified would occur. View "Kansas Corporation Commission v. FERC" on Justia Law

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Leidos moved to convert an arbitration award into U.S. dollars based on the exchange rate on July 2, 2013, the date of the original arbitral award. The DC Circuit reversed the district court's grant of the motion, holding that the district court mistakenly granted the motion. The court explained that the exchange rate had dropped 19.1 per cent from the award date to the judgment date, and thus the total dollar value of the conversion increased the value of the arbitral award by approximately $11.9 million. View "Leidos, Inc. v. Hellenic Republic" on Justia Law

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Petitioners challenged four FERC orders that uphold the current iteration of the Tariff that governs electricity rates in New England. The Tariff, a patchwork of rules and orders adopted by the Independent System Operator of New England (ISO-NE) and approved by FERC, governs how Forward Capacity Market participants buy and sell future capacity. The DC Circuit granted the petitions for review, holding that FERC failed to offer adequate rationale and explanation in the challenged orders. In this case, FERC failed to respond to the substantial arguments put forward by petitioners and failed to square its decision with its past precedent. Accordingly, the court remanded for further proceedings. View "New England Power Generators Association, Inc. v. FERC" on Justia Law

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The DC Circuit granted en banc review to consider whether the federal statute providing the Director of the CFPB with a five-year term in office, subject to removal by the President only for "inefficiency, neglect of duty, or malfeasance in office," 12 U.S.C. 5491(c)(3), was consistent with Article II of the Constitution. The court held that the parallel provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act shielding the Director of the CFPB from removal without cause was consistent with Article II. The court noted that Congress made constitutionally permissible institutional design choices for the CFPB with which courts should hesitate to interfere. The court remanded to the agency for further proceedings. View "PHH Corp. v. CFPB" on Justia Law