Republican AGs Oppose Nasdaq’s Board Diversity Rule

Cozen O'Connor
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  • A group of 22 Republican AGs sent a letter to Nasdaq expressing their continued concern over its proposed board diversity rule.
  • In the letter, the AGs argue that Nasdaq’s proposed rule is a discriminatory quota similar to the affirmative action programs stricken down by the U.S. Supreme Court in its 2023 decision Students for Fair Admissions, Inc. v. President and Fellows of Harvard College.
  • The AGs request that Nasdaq provide information demonstrating that it has policies in place ensuring that companies follow state and federal antidiscrimination laws.
  • We have previously reported on the amicus brief filed by 17 GOP AGs in January 2022 in support of a challenge to the SEC’s approval of the same Nasdaq proposed rule.
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