Fifth Circuit Strikes Down Nasdaq Board Diversity Rules
By EsqSocial Corporation 20/12/24
The U.S. Court of Appeals for the Fifth Circuit vacated the SEC’s approval of Nasdaq’s board diversity rules. Consequently, Nasdaq-listed companies are no longer required to satisfy Nasdaq’s “comply or explain” director diversity standards or provide a diversity matrix in the format prescribed by Nasdaq on their website or in proxy statements. Nasdaq has confirmed it does not intend to seek further review of this decision. While the SEC has not indicated if it will appeal, the upcoming change in...
By: Orrick, Herrington & Sutcliffe LLP