The 5th U.S. Circuit Court of Appeals said the diversity disclosure rules do not have a connection to Congress’ purpose for the Exchange Act in 1934, which was to focus on removing barriers for competition in exchange, manipulation, and fraud.
Federal appeals court says Nasdaq, SEC diversity rules unlawful
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The parents challenged the policy, but the 7th U.S. Circuit Court of Appeals said they lacked standing — meaning a sufficient legal injury — to bring the case.
Supreme Court rejects challenge to school gender transition policy, leaves parents in the dark
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