On June 4, the SEC published a concept release focusing on whether the current definition of “foreign private issuer” still makes sense in light of dramatic shifts in market structure and issuer profiles. The SEC seeks public comment on whether, and how, it should redefine “foreign private issuer” to better protect investors and promote capital formation.

We previously reported how the PTAB’s institution rate has fallen to approximately 40% in the new administration, with many of those denials stemming from the PTAB’s increased usage of its discretionary denial processes to deny IPR challenges without otherwise addressing the merits of the identified prior art. The latest grant of discretionary denial continues that trend and exemplifies the current challenges in pursuing IPR/PGR invalidity challenges at the U.S. Patent Office.