Nasdaq Moves to Erase Board Diversity Rules After Court Loss

Nasdaq is seeking to formally withdraw rules meant to boost the number of women and minorities on company boards, after a federal appeals court struck them down last year.

The stock exchange operator intends to scrub the regulations from its rulebook for listed companies by Feb. 4, according to a Thursday filing with the Securities and Exchange Commission. A US Court of Appeals for the Fifth Circuit mandate voiding the rules will take effect that day, Nasdaq Inc. said.

The rules required thousands of listed companies to have diverse boards or explain why they don’t. The SEC must back Nasdaq’s ...