The Fifth Circuit Court of Appeals denied Tuesday another effort by attorneys general from California, New York and Oregon to defend the Labor Department's fiduciary rule, Investment News reported. Last week, the states filed a motion asking the court to reconsider its May 2 decision rejecting their motion to enter a lawsuit against the rule as defendants. As it did in its May 2 decision, the three-judge panel split, 2-1, in deciding not to take another look at the states' motion. The three judges also ruled unanimously yesterday to deny the states' alternative motion to permit a rehearing of their effort to intervene by the full 17 judges of the 5th Circuit.
