Legal News

Is The Nasdaq Board Diverse Enough: Legal Battle

By

30 August, 2022

14 Views

No Comments »

A rule passed earlier this month mandated the companies listed on the stock exchange to provide a report of the ethnic and gender diversity constitution of their boards.

 This is leading companies to resort to illegal quotas based on gender and race.

Last year, the Securities and Stock Exchange Community was sued by two right-winged groups. 

The lawsuit was filed on the topic of diversity in the corporate field. Limits to the measures taken in the execution of this diversity rule were questioned. 

The National Center for Public Policy Research is one of the groups that were involved in the case. 

Attorney Peggy Little has stated that the details of quotas on demography, race, gender, and sexual preferences that have been required to be furnished are completely unprecedented.

The matter was taken up in the Fifth Circuit Appeals Court. 

It is the first time that the diversity rules or any of the listing rules of Nasdaq have been taken up as an issue in a courtroom. 

Although there have been a lot of speculations regarding the case, Nasdaq and the Security Exchange Commission have argued that these claims are not true. There have been no discriminatory practices observed by these bodies.

Read Also:

Share This Article

Tags

Susmita Sen has started his journey in the Digital Marketing field. She has more than 1 year of experience in SEO. She likes to share her thoughts for the Website’s achievement goal. She is so passionate about bright career in this ways. Susmita has interest about travelling, cooking in various dishes, reading books about human psychology, and listening to music.

View Post

Leave a Reply

Your email address will not be published. Required fields are marked *

Relatable Post

Ruling On Special Master Requested By Trump
Stanford University Subpoenaed
Legal Status Of The HEROES Act