One of the first tests of the post-Chevron legal landscape is set to hit the conservative-leaning Fifth Circuit on Tuesday as it hears a challenge to a major Biden climate change initiative aimed at encouraging sustainable investing in 401(k) plans.
Judge Matthew Kacsmaryk of the US District Court for the Northern District of Texas leaned heavily on the Chevron doctrine in his September decision that the US Labor Department acted within its authority in issuing the environmental, social, and corporate governance investing rule.
But that was before the US Supreme Court overturned Chevron in Loper Bright Enterprises v. Raimondo ...