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Walkers

Analysing the Changyou.com decision: What it means for appraisal rights in short-form mergers

Walkers on

A short-form statutory merger can be effected under the Cayman Islands' Companies Act (as revised) (the "Act") between a parent company and a Cayman Islands incorporated subsidiary. The short-form statutory merger takes...more

Foley Hoag LLP - Public Companies & the Law

SEC approves Nasdaq’s proposal to remove board diversity rules to align with 5th Circuit’s mandate

Foley Hoag LLP - Public Companies & the Law on

As we previously posted, the U.S. Court of Appeals for the Fifth Circuit vacated the SEC’s approval of Nasdaq’s board diversity disclosure rules last month, after which Nasdaq indicated that it did not intend to seek further...more

ArentFox Schiff

Fifth Circuit Vacates SEC’s Approval of Nasdaq’s Diversity Rules

ArentFox Schiff on

On December 11, 2024, the US Court of Appeals for the Fifth Circuit ruled that the Securities and Exchange Commission (SEC) lacked statutory authority to approve Nasdaq’s board diversity rules. Subject to certain exceptions,...more

Seward & Kissel LLP

U.S. Court of Appeals for the Fifth Circuit Vacates SEC’s Approval of Nasdaq’s Board Diversity Rules

Seward & Kissel LLP on

On December 11, 2024, the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) vacated the U.S. Securities and Exchange Commission’s (“SEC”) approval of The Nasdaq Stock Market LLC’s (“Nasdaq”) Board Diversity Rules....more

Perkins Coie

Nasdaq Board Diversity Rules Vacated; SEC Approval Found “Arbitrary and Capricious”

Perkins Coie on

In a 9-8 decision on December 10, 2024, the U.S. Court of Appeals for the Fifth Circuit struck down Nasdaq’s efforts to promote diversity on public company boards. The case, Alliance for Fair Board Recruitment v. SEC, vacated...more

Foley Hoag LLP - Public Companies & the Law

Nasdaq’s Board Diversity Rules Struck Down by 5th Circuit

Foley Hoag LLP - Public Companies & the Law on

On December 11, 2024, the U.S. Court of Appeals for the Fifth Circuit vacated the SEC’s approval of Nasdaq’s board diversity disclosure rules. These rules were approved by the SEC on August 6, 2021 and required listed...more

Sullivan & Worcester

Nasdaq Board Diversity Rule Struck Down by Federal Court

Sullivan & Worcester on

Yesterday, the U.S. Court of Appeals for the Fifth Circuit vacated the SEC’s approval of Nasdaq’s board diversity disclosure rules. While the SEC has not yet indicated if it will appeal,...more

Snell & Wilmer

Board Diversity Initiatives Falter in the Courts but Investor Interest Is Likely to Remain Strong

Snell & Wilmer on

Last year, Superior Courts in Los Angeles County invalidated two California statutes requiring specific diversity mandates for California public company boards (Senate Bill 826 “SB 826” and Assembly Bill 979 “AB 979”). The...more

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