Nasdaq’s DEI requirements for listed companies struck down
A federal appeals court has overturned Nasdaq’s initiatives to impose diversity targets on the boards of its listed companies, another blow to the push for corporate diversity, equity and inclusion policies.
The 5th U.S. Circuit Court of Appeals ruled last Wednesday that the Securities and Exchange Commission erred in its 2021 approval of Nasdaq’s board diversity listing rule that required listed entities to disclose board diversity statistics and meet minimum diversity benchmarks overtime or explain their non-compliance…
Sheng Li, litigation counsel for the New Civil Liberties Alliance, told the outlet that the ruling recognized that neither the SEC nor Nasdaq should dictate the demographic makeup of corporate boards.
Li stressed that the policies undermined individuality and compelled companies to categorize people based on gender, race and sexual orientation…
December 16, 2024
Originally Published in The Christian Post