Davis Polk


U.S. District Court Upholds Conflict Minerals Rules

July 24, 2013

On July 23, Judge Robert L. Wilkins of the U.S. District Court for the District of Columbia rejected a lawsuit brought by the National Association of Manufacturers, the Chamber of Commerce of the United States of America and the Business Roundtable seeking to invalidate the SEC’s conflict minerals rules under a variety of theories. According to Judge Wilkins: “Finding no problems with the SEC’s rulemaking and disagreeing that the ‘conflict minerals’ disclosure scheme transgresses the First Amendment, the Court concludes that Plaintiffs’ claims lack merit.”

Barring any stay issued upon an appeal, this means that the conflict minerals rules will remain in effect, and companies that manufacture or contract to manufacture products with conflict minerals that are necessary to production or functionality will be required to file a Form SD, and potentially a Conflict Minerals Report, by May 31, 2014.

For further information, please see our October 26, 2012 client memorandum, which provides a general overview of the rules, and our May 31, 2013 client newsflash, which explains the helpful guidance issued by the SEC staff on May 30.

If you have questions regarding this publication, please contact any of the lawyers listed below or your regular Davis Polk contact.

Bruce K. Dallas 650 752 2022 bruce.dallas@davispolk.com
Alan F. Denenberg 650 752 2004 alan.denenberg@davispolk.com
Joseph A. Hall 212 450 4565 joseph.hall@davispolk.com
Michael Kaplan 212 450 4111 michael.kaplan@davispolk.com
William M. Kelly 650 752 2003 william.kelly@davispolk.com
Richard J. Sandler 212 450 4224 richard.sandler@davispolk.com
Richard D. Truesdell, Jr. 212 450 4674 richard.truesdell@davispolk.com

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