In a recent progression of the Nasdaq diversity case, the U.S. Securities and Exchange Commission (SEC) urged the Fifth Circuit to deny a full court review of a controversial Nasdaq Stock Market rule. The rule in question requires corporations to disclose board diversity data.
This request for review was countered by the SEC, standing firm on their argument that conservative groups opposing this rule have no standing, due to an absence of any court rulings in their favor. Furthermore, the SEC contested that the case lacks any questions deemed of “exceptional importance” warranting a circuit court review.
For more detailed reporting, the original coverage by Jessica Corso is available on Law360.