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Securities and Exchange Commission (SEC) Fourteenth Amendment

Allen Matkins

Intentionally Discriminatory Public Offering Stalled At The SEC

Allen Matkins on

In this February post, I pondered the question of whether an issuer could allocate shares on the basis of race, gender or ethnicity.  That post was inspired by the case of  Glennon v. Johnson, U.S. Dist. Ct. Case No....more

Cadwalader, Wickersham & Taft LLP

Nasdaq Board Diversity Rules Overturned by US Court of Appeals

On December 11, 2024, in Alliance for Fair Board Recruitment v. SEC, the US Court of Appeals for the Fifth Circuit ruled in a 9-8 vote that the Securities and Exchange Commission’s (SEC) adoption of the Nasdaq board diversity...more

Mintz

Federal Court Bars Missouri's Anti-ESG Investment Rules

Mintz on

Yesterday, Judge Bough (W.D. Mo.) issued a decision barring the recent anti-ESG rules Missouri had promulgated that prohibited investment advisers from utilizing ESG factors when making investment decisions (absent written...more

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

Kramer Levin Naftalis & Frankel LLP

Corporate Governance: 2023 Midyear Review

The public and private focus on corporate governance continued apace in the first half of 2023. In recent months, there were notable developments in jurisprudence potentially impacting corporate diversity initiatives and in...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

Carlton Fields

Supreme Court Declines to Review Constitutionality of SEC In-House Court

Carlton Fields on

The SEC’s increased use of its own "home court" for enforcement proceedings has triggered constitutional challenges to SEC administrative proceedings (APs). See "Defendants Challenge SEC’s Increased Use of Administrative...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - July 2015

Proskauer Rose LLP on

Editor's Overview - This month's article by Lindsey Chopin discusses Affordable Care Act ("ACA") litigation. Just five years old, the Supreme Court has considered issues related to the ACA numerous times. Two of those...more

Franczek P.C.

Monthly Benefits Alert - June 2015

Franczek P.C. on

Supreme Court - As explained in more detail in separate alerts we issued over the past several days, the Supreme Court decided two major cases involving the Affordable Care Act and same-sex marriage. First, as described...more

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