News & Analysis as of

Fourteenth Amendment Publicly-Traded Companies

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

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

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

Jones Day on

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

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