Fifth Circuit Vacates Nasdaq's Board Diversity Rules: Key Implications for the 2025 Proxy Season
By EsqSocial Corporation 30/12/24
On December 11, 2024, the U.S. Court of Appeals for the Fifth Circuit, in a 9-8 en banc decision, vacated the approval of Nasdaq's board diversity rules by the Securities and Exchange Commission (SEC). The court held that the "SEC failed to justify its determination that Nasdaq's Board Diversity Proposal is consistent with the requirements of the Exchange Act."...
By: Venable LLP