DEI backlash reaches Nasdaq as court strikes down diversity rules

Yahoo Finance12-13

A federal appeals court struck down Nasdaq (^IXIC) rules designed to encourage more diverse company boards, the latest defeat for DEI policies across corporate America. The decision handed down by ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2491331481?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/D7ThsEDKTDtpTBqqJLKXgA--~B/aD0yNjY4O3c9NDAwMDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2024-12/0437e0e0-b89a-11ef-bdfa-5b2fd69eb07e","is_english":true,"pubTime":"2024-12-13 00:52","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2491331481","market":"us","top_or_hot":-1,"title":"DEI backlash reaches Nasdaq as court strikes down diversity rules","media":"Yahoo Finance","content":"<div>\n<p>A federal appeals court struck down Nasdaq (^IXIC) rules designed to encourage more diverse company boards, the latest defeat for DEI policies across corporate America.\nThe decision handed down by ...</p>\n\n<a href=\"https://finance.yahoo.com/news/dei-backlash-reaches-nasdaq-as-court-strikes-down-diversity-rules-165237789.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DEI backlash reaches Nasdaq as court strikes down diversity rules</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDEI backlash reaches Nasdaq as court strikes down diversity rules\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-13 00:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/dei-backlash-reaches-nasdaq-as-court-strikes-down-diversity-rules-165237789.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A federal appeals court struck down Nasdaq (^IXIC) rules designed to encourage more diverse company boards, the latest defeat for DEI policies across corporate America.\nThe decision handed down by ...</p>\n\n<a href=\"https://finance.yahoo.com/news/dei-backlash-reaches-nasdaq-as-court-strikes-down-diversity-rules-165237789.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2275660780.HKD","symbol_name":"SCHRODER ISF GLOBAL CLIMATE CHANGE EQUITY \"A\" (HKD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/dei-backlash-reaches-nasdaq-as-court-strikes-down-diversity-rules-165237789.html","article_id":"2491331481","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/D7ThsEDKTDtpTBqqJLKXgA--~B/aD0yNjY4O3c9NDAwMDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2024-12/0437e0e0-b89a-11ef-bdfa-5b2fd69eb07e"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491331481","pubTimestamp":1734022357,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"A federal appeals court struck down Nasdaq  rules designed to encourage more diverse company boards, the latest defeat for DEI policies across corporate America.The decision handed down by nine judges for the Fifth Circuit Court of Appeals in New Orleans concluded that the Securities and Exchange Commission should not have approved the Nasdaq rules in 2021.These rules would have required the thousands of companies listed on the tech-heavy exchange to have at least one person who self-identified as female on their board, or explain why there was not one, along with at least one person who self-identified as either from a racial minority or as LGBTQ.It was the first proposal of its kind for a US exchange, and it attracted opposition from conservative groups that challenged the policy in court.The nine appeals judges in the majority, who were appointed by Republican presidents, found the Nasdaq proposal violated securities law.The Nasdaq Market site in New York City. REUTERS/Brendan McDer","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2275660780.HKD":"SCHRODER ISF GLOBAL CLIMATE CHANGE EQUITY \"A\" (HKD) ACC","LU1941712264.USD":"ALLIANZ PET AND ANIMAL WELLBEING \"A\" (USD) INC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD",".IXIC":"NASDAQ Composite","LOW":"劳氏","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","TSCO":"拖拉机供应公司","BK4083":"家庭装潢零售","SG9999002521.SGD":"United Global Resources A Acc SGD","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","DEI":"道格拉斯艾美特","DE":"迪尔股份有限公司","NDAQ":"纳斯达克OMX交易所","PII":"北极星","BK4091":"摩托车制造商","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","BK4504":"桥水持仓","IE00BGHQF748.EUR":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (EUR) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","HOG":"哈雷戴维森","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","WMT":"沃尔玛","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0323240290.USD":"HSBC GIF GLOBAL EQUITY CLIMATE CHANGE \"AD\" INC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","LU1917777945.USD":"安联专题基金Cl AT Acc","BK4588":"碎股","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","LU2211817866.USD":"Allianz Food Security AT Acc USD","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU1941712348.USD":"ALLIANZ PET AND ANIMAL WELLBEING \"AT\" (USD) ACC","BK4152":"农用农业机械","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD"},"translate_title":"随着法院推翻多元化规则，DEI的强烈反对波及纳斯达克","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WMT":1,"TSCO":1,".IXIC":1,"HOG":1,"NDAQ":1,"PII":1,"DE":1,"DEI":1,"LOW":0.9},"content_text":"A federal appeals court struck down Nasdaq (^IXIC) rules designed to encourage more diverse company boards, the latest defeat for DEI policies across corporate America.\nThe decision handed down by nine judges for the Fifth Circuit Court of Appeals in New Orleans concluded that the Securities and Exchange Commission should not have approved the Nasdaq rules in 2021.\nThese rules would have required the thousands of companies listed on the tech-heavy exchange to have at least one person who self-identified as female on their board, or explain why there was not one, along with at least one person who self-identified as either from a racial minority or as LGBTQ. \nIt was the first proposal of its kind for a US exchange, and it attracted opposition from conservative groups that challenged the policy in court.\nThe nine appeals judges in the majority, who were appointed by Republican presidents, found the Nasdaq proposal violated securities law.\n\n\n\n  The Nasdaq Market site in New York City. REUTERS/Brendan McDermid/File Photo\n \n\n  Reuters / Reuters\n \n\n\"We hold … that the diversity rules cannot be squared with the Securities Exchange Act of 1934,\" they said in the 9-8 ruling. \nThe SEC, they added, failed to establish that the diversity disclosure rules were related to the purpose of the Exchange Act — which \"exists primarily to protect investors and the macroeconomy from speculative, manipulative, and fraudulent practices, and to promote competition in the market for securities transactions.\"\nFive judges who parted ways with the majority said in a dissenting opinion that the court overstepped its authority by imposing policy on a private limited liability company.\n\"The SEC approved the rule because the reviewing scheme that Congress created doesn’t permit the SEC to displace Nasdaq’s private business judgment informed by investor behavior with agency policy priorities,\" the dissenting judges said.\nThe decision underscores a backlash against diversity-focused initiatives and \"woke\" policies that picked up momentum across corporate America in 2024.\nWalmart (WMT) last month became the most prominent company yet to scale back some of its diversity initiatives. \nWalmart told Yahoo Finance that it would cease using the acronym DEI, no longer participate in a corporate equality rating system created by the Human Rights Campaign, and end its $100 million Center for Racial Equity that was scheduled to be sunsetted in 2025.\n\n\n\n  A Walmart in Teterboro, N.J. REUTERS/Siddharth Cavale/File Photo\n \n\n  Reuters / Reuters\n \n\nThe company also said it would remove merchandise from its stores, including sexual and transgender products marketed to children, plus review its supplier diversity program to ensure that no preferences are made based on race. Walmart added that it would stop using the term \"Latinx\" in official communications to refer to people of Latin American cultural or ethnic identities.\n\"We’ve been on a journey and know we aren’t perfect, but every decision comes from a place of wanting to foster a sense of belonging, to open doors to opportunities for all our associates, customers and suppliers and to be a Walmart for everyone,\" the company said in a statement.\nHome improvement giant Lowe’s (LOW), rural retailer Tractor Supply (TSCO), and tractor maker John Deere (DE) also announced retreats from DEI policies last summer. Harley-Davidson (HOG), Jack Daniel’s maker Brown-Forman (BF-A), Polaris (PII), and its motorcycle subsidiary Indian Motorcycle are among the other recent pullbacks.\nConservative activist Robby Starbuck has said many of these discarded diversity initiatives happened after he communicated plans to \"expose\" woke policies.\nHe did so with Walmart, saying in a post on X that he told executives at the retailer that he was \"doing a story on wokeness there\" and that he and Walmart \"had productive conversations to find solutions.\"\nCiting the company's changes, he added that \"this is the biggest win yet for our movement to end wokeness in corporate America.\"\nClick here for in-depth analysis of the latest stock market news and events moving stock prices\nRead the latest financial and business news from Yahoo Finance","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2491331481"}