Media Coverage
Source: Daily Journal
Media Coverage
06.01.22
Boardroom diversity has emerged as a key pillar of ESG (environmental, social and governance) criteria, but recent court rulings have challenged the legal basis for mandating such diversity despite continued shareholder activism in this area.
To date, board diversity has been mandated by the California legislature, Nasdaq Rules 5605(f), 5606 and 5900-9, and by shareholders who have brought proxy statement proposals and repeated derivative actions related to non-diverse boards and executive management. Until recently, most shareholder lawsuits had been dismissed on procedural grounds. But a ruling earlier this Spring ...