Federal court rejects Nasdaq's diversity rules

Published On Dec 12, 2024, 2:56 PM

A U.S. federal appeals court ruled against Nasdaq's diversity rules, which required listed companies to have women and minority directors or explain why they do not. The court found these rules contrary to federal securities law, marking a significant victory for critics of corporate diversity initiatives. Nasdaq plans to respect the ruling and will not appeal. This decision might indicate a shift in corporate compliance regarding diversity measures.