News & Analysis as of

Fourteenth Amendment Board of Directors

Ogletree, Deakins, Nash, Smoak & Stewart,...

DEI Under Scrutiny, Part XI: Fifth Circuit Reconsiders Nasdaq’s Board Diversity Rule

The U.S. Court of Appeals for the Fifth Circuit will likely weigh in soon on the U.S. Securities and Exchange Commission’s (SEC) approval of Nasdaq’s board diversity rule that will require listed companies to disclose...more

BCLP

Fifth Circuit Panel Upholds Nasdaq Board Diversity Disclosure Rules

BCLP on

A Fifth Circuit panel recently upheld Nasdaq’s diversity disclosure rules after petitioners challenged them under the First and Fourteenth Amendments and the Administrative Procedure Act (APA). Alliance For Fair Board...more

Mintz - Employment Viewpoints

Nasdaq’s “Show and Tell” Diversity Disclosure Survives Initial Challenge

The Fifth Circuit has rejected the challenge to Nasdaq’s “show and tell” diversity rule that requires Nasdaq companies to publicly disclose the makeup of their boards. In Alliance for Fair Board Recruitment, National Center...more

Snell & Wilmer

Board Diversity Initiatives Falter in the Courts but Investor Interest Is Likely to Remain Strong

Snell & Wilmer on

Last year, Superior Courts in Los Angeles County invalidated two California statutes requiring specific diversity mandates for California public company boards (Senate Bill 826 “SB 826” and Assembly Bill 979 “AB 979”). The...more

Akin Gump Strauss Hauer & Feld LLP

Assembly Bill 979, California’s Board Diversity Statute, Ruled Unconstitutional

On May 15, 2023, the Eastern District of California ruled that California Assembly Bill No. 979 (“AB 979”) violates the Equal Protection Clause of the U.S. Constitution’s Fourteenth Amendment and 42 U.S.C. § 1981. As enacted,...more

Akin Gump Strauss Hauer & Feld LLP

California’s Board Diversity Statute – Assembly Bill 979 – Ruled Unconstitutional

On May 15, 2023, a district court judge sitting in the Eastern District of California ruled that California Assembly Bill No. 979 violates the Equal Protection Clause of the U.S. Constitution’s Fourteenth Amendment and 42...more

Proskauer - Corporate Defense and Disputes

Federal Court Invalidates California’s Board-Diversity Statute

A California federal court held that a California statute requiring California-based corporations to have a minimum number of directors from designated under-represented groups violates the federal Constitution’s Equal...more

Morrison & Foerster LLP - Left Coast Appeals

This Week at the Ninth: Injured Discriminators and Rails-to-Trails

This week, the Ninth Circuit addresses whether a corporate shareholder has standing to challenge a statute allegedly requiring the corporation to discriminate, and considers the interaction between the 1922 Abandoned Railroad...more

Proskauer - California Employment Law

Board of Directors Quota Law May Be Unconstitutional

Meland v. Weber, ___ F.3d ___, 2021 WL 2521615 (9th Cir. 2021) In 2018, the California Legislature enacted Senate Bill 826, which requires all corporations headquartered in California to have a minimum number of females on...more

Jones Day

California Mandates Representation of Underrepresented Communities on Boards of Public Corporations

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The Situation: California's governor recently signed into effect a new law requiring public corporations whose principal executive offices are located in California to have a certain minimum number of individuals from...more

Allen Matkins

California Board Gender Quota Law Challenged In Federal Court

Allen Matkins on

Cydney Posner at Cooley LLP wrote last week about a new challenge to California's Board Gender Quota law. The lawsuit, Creighton Meland v. Alex Padilla, Secretary of State of California, was reportedly filed in federal...more

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