From the I’d-rather-watch-paint-dry department: That conservative outfit still arguing that the Sarbanes-Oxley Act is unconstitutional has, yet again, lost a court dispute and vowed to appeal.
Earlier this week, the U.S. Court of Appeals for Washington, D.C., voted 5-4 not to review the case, which argues that the structure of the Public Company Accounting Oversight Board violates the appointments clause of the U.S. Constitution. And because SOX lacks a severability clause, if that section of the law establishing the PCAOB ever were ruled unconstitutional, the whole of Sarbanes-Oxley would go out the window.
