🧩 SEC proposes scrapping shareholder-proposal rule
PLUS: Musk's chip-factory name fight and a nuclear IPO on hold
September 17, 2026
Lookzy: all your daily legal news in 0.1 billable hours. Plain English coverage of deals, litigation and legal trends trusted by lawyers at Cravath, Latham, Skadden, Gunderson and elsewhere.
Welcome to Lookzy. In today's Lookzy:
SEC proposes scrapping the shareholder-proposal rule
Tesla and SpaceX sue over Terafab
Holtec puts an IPO of up to $900 million on hold
The Federalist Society helps build a college law program
THE VERDICT
Arguing today's litigation news
Shareholder-proposal rollback. The SEC proposed ending the federal requirement that companies include qualifying shareholder proposals in their proxy materials. It wants to scrap Rule 14a-8 and leave the role of those proposals to state law and companies' governing documents. The agency says the rule exceeds its statutory authority.
Factory name fight. Tesla and SpaceX want a Texas federal court to clear the Terafab name for their planned chip factory. They sued TERA-print, which sells a desktop photolithography printer called Tera-Fab and sent a cease-and-desist letter. Musk's companies argue the technologies and customers are different.
THE DEAL
Wheelin' and dealin' today's corporate news
Nickel supply worries. EU regulators issued a preliminary antitrust warning over MMG's planned purchase of Anglo American's Brazilian nickel business. Their concern: Chinese-controlled MMG could divert low-carbon ferronickel away from Europe, hurting stainless steelmakers. Anglo disputes the assessment, while MMG has said it is willing to offer supply guarantees.
Nuclear IPO stalls. Holtec Nuclear suspended its planned US IPO a day before expected pricing, citing market conditions. The spent-fuel storage and reactor-parts company had hoped to raise up to $900 million. Other recent nuclear listings have struggled: Standard Nuclear and X-Energy both closed Wednesday well below their IPO prices.
BOILERPLATE
Employment advice, prices posted. David Perla, who remains Burford's vice chair, and fellow Pangea3 co-founder Sanjay Kamlani launched FairPlay Law with posted flat fees for professionals seeking advice on offer letters, equity and severance. The employee-side firm is seeking referrals from BigLaw lawyers whose employer clients create conflicts.
FedSoc goes to college. The private University of Austin (UATX, separate from UT Austin) is building an undergraduate law program with the Federalist Society after an $11 million donation. FedSoc will help design a curriculum on the Constitution, rule of law and individual liberty to prepare students for law school.
Willkie's data-center hires. Willkie hired four Akerman real estate partners in Dallas: James Grice, Bruce 'Eddie' Lowry, Michael McKinley and Thu Pham. Grice will chair its Digital Infrastructure and Data Center practice. The team handles data-center development and leasing, including power agreements and water allocation.
Alright, back to billing. That's all, folks!
