A panel of the New Orleans-based 5th U.S. Circuit Court of Appeals on Oct. 18 struck down lawsuits challenging a Nasdaq stock market rule requiring companies listed on the exchange to have “diverse” directors on their boards or explain why they don’t.
In a lengthy opinion, the appeals court rejected lawsuits seeking to block the rule by the National Center for Public Policy Research and the Alliance for Fair Board Recruitment, a group formed by conservative legal activist Edward Blum.
