Reported 2 days ago
A federal appeals court has struck down Nasdaq's diversity rules requiring listed companies to have diverse boards, marking a significant defeat for diversity, equity, and inclusion (DEI) policies in corporate America. The Fifth Circuit Court ruled that these rules violated securities law, stating that the SEC had failed to justify them under the Securities Exchange Act. This decision echoes a larger trend, as major corporations like Walmart have begun scaling back their DEI initiatives, reflecting a growing backlash against such policies in the business landscape.
Source: YAHOO