Disclosure | Judiciary.org

Supreme Court

Justices skeptical about Facebook’s data breach disclosure to investors

The justices heard arguments Wednesday in Facebook v. Amalgamated Bank, their first securities case of the year. The case involves the 2015 Cambridge Analytica-Facebook data breach, and considers whether Facebook’s disclosures to investors before the breach was public improperly downplayed the risks that data breaches posed to the company and its stock price.

Shareholders sued Facebook in 2018 after they learned that Cambridge Analytica had obtained the personal data of 30 million Facebook users. The shareholders conted that … Read the rest

Supreme Court

Alito reports gift of $900 concert tickets in annual financial disclosure

Justice Samuel Alito did not report any reimbursements for travel-related expenses in 2023, according to a financial disclosure form made public on Friday. The form also revealed that Alito accepted concert tickets worth $ 900 from a German princess.

Each justice is required to file a financial disclosure every year by May 15 with the Administrative Office of the U.S. Courts, which makes the forms available online in early June. However, the justices can receive an extension of up to … Read the rest

Supreme Court

In financial disclosure Thomas adds two “inadvertently omitted” trips from billionaire Crow

Justice Clarence Thomas revealed on Friday that conservative billionaire Harlan Crow paid for two trips in 2019, involving a hotel stay in Bali, Indonesia, and at a private club in Sonoma County, Calif. The news came as part of the justices’ annual financial disclosures, which are filed in mid-May and released in early June each year. The forms published online on Friday by the Administrative Office of the U.S. Courts chronicled the justices’ book royalties – including an advance … Read the rest

Civil Law

Asia Regulators’ Responses to the ISSB Disclosure Standards

The inaugural International Sustainability Standards Board (“ISSB“) sustainability disclosure standards, namely IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) (the “ISSB Standards“), have received positive feedback from stakeholders across the globe since its issuance on 26 June 2023 (which we reported here). This includes endorsement by the International Organization of Securities Commissions (IOSCO) on 25 July 2023.

The long-awaited ISSB Standards are intended to serve as a global baseline … Read the rest

Supreme Court

Jackson’s financial disclosure reveals additional income in previous years

The court’s newest justice, Ketanji Brown Jackson, omitted information regarding reimbursements and teaching income when she filed her 2014 and 2016 financial disclosures as a federal district court judge. On a newly released disclosure form, Jackson wrote that she “inadvertently omitted” the information from the previous years’ forms.

Jackson’s new disclosure form, known as a “nomination filing,” was first revealed by the watchdog group Fix the Court on Wednesday. On it, Jackson noted that she did not report $ … Read the rest