Corporate,
Constitutional Law,
Civil Litigation
Oct. 26, 2021
Board quotas challenged as unneeded, unconstitutional
But even if legal challenges to California’s law and Nasdaq’s rule are ultimately successful, corporate lawyers say companies are rushing to diversify their boards anyway.
The battle to diversify corporate boards is coming down to the wire, with a state court challenge expected to go to trial in Los Angeles Dec. 1 and two federal court challenges consolidated in Sacramento.
Under a new California law, boards of directors of more than six seats must appoint at least two women by the end of the year or face penalties. Nasdaq is requiring companies to diversify their boards or publish a report explaining why --...
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