Nasdaq Rebuts Claims Racehorse Ruling Threatens Diversity Rules

Nasdaq Inc. is contesting a conservative organization’s argument that the stock exchange’s SEC-approved board diversity rules face new legal obstacles after a federal appeals court recently upheld a racehorse anti-doping law.

The Alliance for Fair Board Recruitment last week told the US Court of Appeals for the Fifth Circuit that its case against the rules got a boost from a March 3 decision affirming the constitutionality of the Horseracing Integrity and Safety Act. In that decision, the US Court of Appeals for the Sixth Circuit in Oklahoma v. United States ruled that a federal agency has regulatory authority over a ...