Friday, August 26, 2022

"NCLA Presents Oral Argument in Case Challenging Nasdaq Board Diversity Rules"

I received the following in an email and thought it might be of interest to BLPB readers.


MONDAY: NCLA Presents Oral Argument in Case Challenging Nasdaq Board Diversity Rules  

WHO: NCLA Senior Litigation Counsel Peggy Little, NCLA Litigation Counsel Sheng Li

WHAT: NCLA will appear before Judges Carl E. Stewart, James L. Dennis, and Stephen A. Higginson, in the U.S. Court of Appeals for the Fifth Circuit for a hearing in the case of National Center for Public Policy Research v. SEC.

On August 6, 2021, SEC narrowly approved a Rule requiring disclosure of the aggregate race, gender, and sexual preference of Nasdaq-listed companies, with two of five Commissioners dissenting. The Board Diversity Rule subjects Nasdaq-listed companies to the following requirements: (a) they must disclose information about their board’s self-identified gender, race, and sexual preference; and (b) either (i) meet minimum quotas of individuals of a certain gender, racial, and sexual preference, or (ii) publicly explain why the board does not meet such quotas.

The Board Diversity Rules fall outside of the agency’s regulatory authority.

WHERE: Room 209 of the Wisdom Courthouse, 600 S Maestri Pl, New Orleans, LA 70130

The hearing is open to the public.

Click on this link to listen live to the oral argument (Note, this link is active only during the hearing.)

Click on this link to listen to a recording of the argument after the hearing (Recordings are posted shortly after the hearing.)WHEN: Monday, August 29, 2022. The oral arguments for the court begin at 9:00AM CT. Click on this link for the full schedule. NCLA is expected to begin presenting from 9:40AM - 9:50AM. 

For more information click here to visit the case page here.

Stefan J. Padfield | Permalink


That is a tough panel draw for the NCLA.

Posted by: H. Justin Pace | Aug 26, 2022 6:06:20 PM

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