The U.S. Chamber of Commerce has announced that it has filed a lawsuit along with the Texas Association of Business that challenges the so-called Multiple Acquisition Rule issued by Treasury in April 2016 that applies in relation to the inversion thresholds under Section 7874. The complaint includes that the Multiple Acquisition Rule violates the Administrative Procedure Act (APA), and seeks an order and judgment setting aside the Rule.
The Multiple Acquisition Rule
Under Section 7874, an …