The Supreme Court ruled against the Public Company Accounting Oversight Board in a 5-4 decision, finding that the way board members are appointed is unconstitutional.

In the closely watched case, the court ruled that limitations on the power to remove the members of the PCAOB are unconstitutional under the separation of powers doctrine. The court also found that the board members are inferior officers, and the method of appointment under the Sarbanes-Oxley Act violates the Appointments Clause.  The result reverses in part, affirms in part, and remands.

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