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Business groups oppose tighter financial disclosures in court amicus briefs

The article from Reuters discusses how various business groups, including the U.S. Chamber of Commerce and the Business Roundtable, have filed amicus briefs opposing a proposed rule by the Judicial Conference of the United States. This rule would mandate that parties in federal lawsuits disclose their corporate parents and any publicly traded companies owning 10% or more of their stock. The opposition stems from concerns that such disclosures could lead to the public identification of private companies' ownership structures, potentially exposing sensitive business information. Critics argue that this could deter companies from engaging in litigation due to privacy and competitive concerns. The Judicial Conference's proposal aims to enhance transparency in the judicial system, but business groups contend that it overreaches, potentially violating privacy and not aligning with the intended scope of the rules.

Read the Full Reuters Article at:
[ https://www.reuters.com/legal/government/business-groups-oppose-tighter-financial-disclosures-court-amicus-briefs-2025-02-14/ ]