SCOTUS: Companies’ Disclosure Omissions Aren’t Securities Fraud

The U.S. Supreme Court on April 12 ruled that shareholders can’t sue companies under federal fraud law for not disclosing information about future risks unless the omission makes another statement misleading. 

The court sided with Macquarie Infrastructure in a lawsuit filed by Moab Partners back in 2018. Moab sued Macquarie for not disclosing that its revenue was vulnerable to a phaseout of high-sulfur freighter fuel between 2016 and 2018. 

A ruling the other way could have raised company executives’ concerns about the SEC’s paused climate disclosure rules, which leave it to companies to determine what information is material and thus should be disclosed. 

More: Axios 

BLM Approves Dry Lake East Energy Center Solar Project in Nevada

The Bureau of Land Management on April 19 approved the 200-MW Dry Lake East Energy Center Solar Project in Clark County, Nev. 

The project, which will sit on 1,635 acres of public land, will provide up to 600 MW of storage. 

More: BLM 

US Creates Climate, Trade Task Force to Address Commerce, Manufacturing Emissions

The U.S. will create a trade task force aimed at reducing carbon emissions from global commerce and manufacturing, White House senior adviser John Podesta said April 16. 

The task force will focus on addressing carbon leakage, carbon dumping and emissions associated with upstream manufacturing and production. It will also ensure carbon emissions data is available for implementing national climate and trade policies. 

More: Reuters