DEI backlash reaches Nasdaq as court strikes down diversity rules [Yahoo! Finance]
Walmart Inc. (WMT)
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Source: Yahoo! Finance
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. "We hold…that the diversity rules cannot be squared with the Securities Exchange Act of 1934," they said in the 9-8 ruling. The SEC, they added, failed to establish that the diversity disclosure rules were
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WMT
Earnings
- 11/19/24 - Beat
WMT
Sec Filings
- 12/26/24 - Form 4
- 12/26/24 - Form 144
- 12/20/24 - Form 144
- WMT's page on the SEC website