From our private database of 14,100+ case briefs...
Free Enterprise Fund v. Public Company Accounting Oversight Board
United States Supreme Court
130 S. Ct. 3138 (2010)
In 2002, Congress enacted the Sarbanes-Oxley Act. Among other provisions, it provided for regulating of the accounting industry by a new Public Company Accounting Oversight Board (Board) (defendant). The Board was to be composed of five members, appointed to staggered five-year terms. The Board is under the oversight of the Securities and Exchange Commission (SEC), but the SEC cannot remove Board members except for good cause. SEC Commissioners determine whether there is good cause to remove a Board member. SEC Commissioners cannot be removed by the President except for “inefficiency, neglect of duty, or malfeasance in office.” The Board began an investigation of Beckstead and Watts, LLP, a Nevada accounting firm, after it found deficiencies in its accounting procedures in an inspection. Beckstead and Watts and the Free Enterprise Fund, a non-profit organization of which Beckstead & Watts is a member, (plaintiffs) brought suit, seeking, inter alia, a declaratory judgment that the Board is unconstitutional because the Board’s protection from removal is in conflict with Article II’s vesting of the executive power in the President. The lower courts rejected plaintiffs’ claims. The Supreme Court granted certiorari.
Rule of Law
Holding and Reasoning (Roberts, J.)
Dissent (Breyer, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 221,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,100 briefs, keyed to 189 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.