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The en banc opinion in No. 21-60626 is stamped "FILED December 11, 2024" and "Date Filed: 12/11/2024".
Case summary: the Fifth Circuit held the SEC[4] lacked authority to approve Nasdaq's women-and-minority board rules under the Securities Exchange Act of 1934.
Confirms the 9-8 en banc decision that the approval was arbitrary and capricious, the moot Recruiting Rule challenge, and Nasdaq's notice the next day that it does "not intend to seek further review".[1]
The 6 August 2021 order the court vacated: listed companies to have, or explain why they do not have, at least one director who self-identifies as female and one who self-identifies as an underrepresented minority or LGBTQ+.[1]
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