A coalition of 17 Republican-led states filed an amicus brief in support of a challenge against Nasdaq Inc. for a set of diversity rules for corporate boards of directors that were approved by the Securities and Exchange Commission (SEC) last August.
The amicus brief (pdf), which was filed by Arizona, Alabama, and other 15 red states in the U.S. Court of Appeals for the 5th Circuit on Dec. 27, includes a litany of alleged abuses, including violations of the equal protection clause of the Constitution, infractions against traditional state jurisdictions, and an overreach of the SEC’s authority.
