The 9-8 decision from the Fifth Circuit Court of Appeals on Tuesday deals another blow to the diversity, equity and inclusion movement in corporate America. The appeals court’s majority found that Nasdaq’s diversity rules,

A U.S. appeals court on Wednesday ruled that Nasdaq could not impose rules designed to increase diversity in corporate America by requiring companies listed on the exchange to have women and minority directors on their boards or explain why they do not.

A federal appeals court on Wednesday struck down the Nasdaq's diversity disclosure rules for companies listed on the stock exchange, which were designed to boost the representation of women and minority directors on boards.