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A court has ruled against a proposal by the Nasdaq market index to impose diversity, equity, and inclusion standards on company boards.
The proposal would have been the first of its kind and would have required that the 3,000 companies listed on the index have at least one woman on their boards of directors, one person who is a minority, and one LGBTQ person.
‘We respect the court’s decision and do not intend to seek further review.’
On Wednesday, the U.S. Court of Appeals for the Fifth Circuit in New Orleans ruled against the Securities and Exchange Commission accepting the DEI proposal from Nasdaq.
“It is not unethical for a company to decline to disclose information about the racial, gender, and LGTBQ+ characteristics of its directors,” read the ruling. “We are not aware of any established rule or custom of the securities trade that saddles companies with an obligation to explain why their boards of directors do not have as much racial, gender, or sexual orientation diversity as Nasdaq would prefer.” […]
— Read More: www.theblaze.com
