Court Overturns Nasdaq's Board Diversity Mandate
A U.S. appeals court in Louisiana has ruled against Nasdaq's proposal to require diversity on the boards of companies listed on its exchange, stating that the SEC should not have approved the policy. The proposal aimed to increase representation of women, racial minorities, and LGBTQ individuals on corporate boards and required companies to disclose board demographics. The court's decision comes amid broader debates on diversity, equity, and inclusion initiatives in corporate America, with some companies scaling back such efforts following recent legal and political challenges.
