



Recruiting News Network
Recruiting
News
OperationsThe Recruiting Worx PodcastMoney + InvestmentsCareer AdviceWorld
Tech
DEI
People
People on the Move
The Leaders
The Makers
People
People on the Move
The Leaders
The Makers
Brand +
Marketing
Events
Labor +
Economics
SUBSCRIBE





Diversity + Equity + Inclusion

Republican AGs back lawsuit challenging Nasdaq diversity rules

HR Dive

December 4, 2023

Diversity + Equity + Inclusion

Republican AGs back lawsuit challenging Nasdaq diversity rules

HR Dive

December 4, 2023

Photo by PiggyBank on Unsplash

A group of 19 Republican state attorneys general filed an amicus brief Tuesday in a lawsuit challenging the Nasdaq Stock Market’s board diversity disclosure requirements, arguing that the full circuit should rehear the case following a three-judge panel’s dismissal of the suit in October.

The attorneys general said the 5th U.S. Circuit Court of Appeals’ October decision constituted a “flawed endorsement” of the Securities and Exchange Commission’s move to allow Nasdaq to implement the disclosure requirements.

Nasdaq first proposed new listing rules that required companies to publicly disclose diversity statistics regarding their boards of directors in 2020. Specifically, the exchange wrote in its pitch to SEC that Nasdaq-listed companies would be required to have at least one director who self-identifies as female, as well as at least one director who self-identifies as Black or African American, Hispanic or Latinx, Asian, Native American or Alaskan Native, Native Hawaiian or Pacific Islander, two or more races or ethnicities or as LGBTQ+.

Under the proposal, companies that did not meet this requirement would need to explain why they did not have at least two directors on their boards who self-identified in these categories. In a press release accompanying the proposal, Nasdaq said its goal was to “provide stakeholders with a better understanding of the company’s current board composition and enhance investor confidence that all listed companies are considering diversity” when selecting directors.

After the SEC approved Nasdaq’s proposal, two organizations, the Alliance for Fair Board Recruitment, an advocacy group, and the National Center for Public Policy Research, a conservative think tank, sued SEC in 2021. The plaintiffs asked the 5th Circuit to vacate the SEC order as well as the Nasdaq rule.

Click for full article

The case is one of several legal actions targeting DEI efforts following the Supreme Court’s affirmative action decision

What we're reading

‘We’re all fighting the giant’: Gig workers around the world are finally organizing

by
Peter Guest
-
rest of world

Gig workers are connecting across borders to challenge platforms’ power and policies

Got Zoom fatigue? Out-of-sync brainwaves could be another reason videoconferencing is such a drag

by
Dr. Julie Boland
-
The Conversation

I was curious about why conversation felt more laborious and awkward over Zoom and other video-conferencing software.

How to Purchase an Applicant Tracking System

by
Dave Zielinski
-
SHRM

Experts say the first step in seeking a new ATS should be to evaluate your existing recruiting processes.

View All Articles

Events

Hire Virtue's Hiring Blitz & Job Fair

Houston, TX
-
to
August 6, 2025
View All Events
Related Articles

In a storm of backlash, HR pros might be questioning their understanding of DEI

Mikaela Cohen

June 25, 2025

A Strategy for the Ages: Why Companies Need to Embrace Older Workers

Becki Murphy

June 11, 2025

© 2024 recruiting news network.
all rights reserved.



Categories
Technology
Money
People
TA Ops
Events
Editorial
World
Career Advice
Resources
Diversity & Inclusion
TA Tech Marketplace
Information
AboutContactMedia KitPrivacy Policy
Subscribe to newsletter
