"[1] In 2024, legal scholar Jonathan H. Adler said that the NCLA had "become a significant player in a relatively short time by raising some administrative law questions that hadn't been getting as much or a lot of attention.
[1][3][4] In 2023, the NCLA filed an appeal with the Supreme Court of the United States on behalf of Emmanuel Lemelson, a hedge fund manager accused of civil securities fraud, and subsequently found liable for making statements that were untrue, but not fraudulent.
[5] The petition hinged on a constitutional freedom of expression question: can the SEC "punish commentary about publicly traded corporations that contains a few purported misstatements or omissions when a jury has cleared the accused of all fraud and deception charges"?
"[7] The NCLA argued that Biden's plan violated the Constitution's Appropriations Clause, which says Congress can decide what debt owed to the Treasury can be canceled.
[4] In the 2024 decision Loper Bright Enterprises v. Raimondo (in which NCLA represented the Rhode Island plaintiffs[4]), the U.S. Supreme Court overturned Chevron deference.