FREE ENTERPRISE FUND and Beckstead and Watts, LLP, Appellants
v.
PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD, et al., Appellees.
United States Court of Appeals, District of Columbia Circuit.https://leagle.com/images/logo.png
Argued April 15, 2008.
Decided August 22, 2008.
Attorney(s) appearing for the Case
Michael A. Carvin argued the cause for appellants. With him on the briefs were Viet D. Dinh, Sam Kazman, Hans F. Bader, Christian G. Vergonis, and Kenneth W. Starr.
Elizabeth Gallaway and William P. Pendley were on the brief for amicus curiae Mountain States Legal Foundation.
Daniel J. Popeo, Paul D. Kamenar, Helgi C. Walker, and Thomas R. McCarthy were on the brief for amicus curiae Washington Legal Foundation in support of appellants.
Jeffrey A. Lamken argued the cause for appellees Public Company Accounting Oversight Board, et al. With him on the brief were Joe Robert Caldwell Jr. and James R. Doty.
Mark B. Stern, Attorney, U.S. Department of Justice, argued the cause for appellee United States of America. With him on the brief were Jeffrey S. Bucholtz, Acting Assistant Attorney General, Jeffrey A. Taylor, U.S. Attorney, Mark R. Freeman, Attorney, Brian G. Cartwright, General Counsel, Securities & Exchange Commission, Andrew N. Vollmer, Deputy General Counsel, Jacob H. Stillman, Solicitor, and John W. Avery, Special Counsel. Robert J. Katerberg, Attorney, U.S. Department of Justice, and R. Craig Lawrence, Assistant U.S. Attorney, entered appearances.
Richard H. Pildes was on the brief for amici curiae G. Bradford Cook, et al.
Ira M. Millstein, Gregory S. Coleman, and Christian J. Ward were on the brief for amicus curiae Council of Institutional Investors in support of appellees.
Dissenting opinion by Circuit Judge KAVANAUGH.
United States Court of Appeals, District of Columbia Circuit.
ROGERS, Circuit Judge:
In this facial challenge, appellants contend that Title I of the Sarbanes-Oxley Act of 2002 ("the Act"), 15 U.S.C. §§ 7211-19, violates the Appointments Clause of the Constitution and separation of powers because it does not permit adequate Presidential control of the Public Company Accounting Oversight Board ("the Board"). Congress, however, made the Board's exercise of its duties subject to the comprehensive control of the Securities...
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