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Appeals Court Finds Foreign Investor Due More Process Than CFIUS Provided

Client Alert | 1 min read | 07.16.14

Yesterday in Ralls v Committee on Foreign Investment in the U.S., the D.C. Circuit reversed the district court's dismissal of Ralls' challenge to a Presidential Order requiring divestiture of its investment in certain wind farm properties, ruling procedurally that the Defense Production Act's prohibition on judicial review of the President's decision did not bar review of an as-applied constitutional due process challenge to the process by which the decision was reached. Substantively, the court held that Ralls was deprived of property without due process by the government's failure to provide Ralls with at least the unclassified information upon which the President relied and an opportunity to rebut that information, and the court also remanded to the district court to address Ralls' APA and other challenges to CFIUS's process and recommendations to the President.


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Client Alert | 3 min read | 09.15.25

Senate Finance Committee Looking to Take White River to the Train Station, Confirms DOJ Investigation into Tribal Tax Credits

On August 19, 2025, the U.S. Senate Committee on Finance (“Senate Finance Committee”) sent Paul Atkins, Chairman, U.S. Securities and Exchange Commission (“SEC”) a letter calling on the SEC to investigate White River Energy Corp (“White River”). In the letter, the Senate Finance Committee confirmed a criminal investigation into White River related to the sale of so-called “tribal tax credits” that according to both Congress and the IRS, do not exist. The letter further states that White River allegedly earned millions of dollars selling these credits and has not been forthcoming with investors regarding the existence of the criminal investigation. According to the Senate Finance Committee, White River has failed to file financial disclosure documents with the SEC since March 15, 2024, missing six consecutive reporting periods. The letter instructs White River to disclose the existence of the DOJ criminal tax investigation, and calls on the SEC to take action if White River fails to do so....

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