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Diversity Corporations Code California

Allen Matkins

Does The Stock Market Believe That California's Board Diversity Mandates Enhance Firm Value?

Allen Matkins on

In 2018 and 2020, California enacted laws mandating that publicly held corporations (as defined) having their principal executive offices in California have specified minimum numbers of directors who are female and from...more

Allen Matkins

Diversity May Be Hard To Find When It Comes To LLCs

Allen Matkins on

Professor Eugene Volokh recently highlighted a decision by U.S. District Judge Brian Cogan taking a plaintiff to task for inadequately pleading diversity jurisdiction when the defendant is a limited liability company. ...more

Allen Matkins

Court Of Appeal Declines To "Sit On" Board Diversity Judgment

Allen Matkins on

In July, California Secretary of State Shirley Weber filed a petition for a writ of supersedeas in the California Court of Appeal with respect to the trial court's judgment in Crest v. Padilla.  In that case, the trial court...more

Sheppard Mullin Richter & Hampton LLP

Los Angeles Superior Court Invalidates California Board Diversity Statute, Rendering It Ripe for Review by the California Court of...

In Crest v. Padilla, No. 20STCV37513 (Cal. Super. Apr. 1, 2022), the Superior Court of California for the County of Los Angeles (Green, J.) declared that Section 301.4 of the California Corporations Code is unconstitutional...more

Allen Matkins

Some Publicly Traded Corporations Have The Right To Remain Silent When They Are Publicly Held

Allen Matkins on

Readers of this space will know that the California's board diversity statutes apply to "publicly held corporations" and that California's corporate disclosure law applies to "publicly traded corporations".   Although these...more

Allen Matkins

Harvard Law Professor Warns Nasdaq's Proposed Board Diversity Rule Would Harm Investors

Allen Matkins on

Jesse Fried is the Dane Professor of Law at the Harvard Law School.  He and  Lucian Bebchuk wrote the book, Pay without Performance: the Unfulfilled Promise of Executive Compensation, a critical assessment of corporate...more

Allen Matkins

Why All Publicly Held Corporations Do Not File Corporate Disclosure Statements

Allen Matkins on

California's female and underrepresented communities quota requirements apply to "publicly-held corporations".  California's Corporate Disclosure Statement requirement applies to "publicly-traded corporations".  California's...more

Allen Matkins

California Secretary Of State Releases Women On Boards Report

Allen Matkins on

Yesterday, the California Secretary of State's office released what is calling the "Women On Boards" report.  The Secretary of State's office is required to publish this report on its website pursuant to Corporations Code §...more

Allen Matkins

Asking About Diversity Is Not As Easy As It May Seem

Allen Matkins on

John Jenkins at CorporateCounsel.net recently observed that "companies may want start thinking about including a diversity question on their annual D&Q questionnaires".   Constructing such a questionnaire would not seem to be...more

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