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flag US appeals court overturns Nasdaq's board diversity rules, deeming them a violation of federal securities law.

flag A US appeals court in New Orleans has overturned Nasdaq's board diversity rules, which required companies to have women and minority directors or explain why they do not. flag The 9-8 decision supports conservative advocacy groups challenging the rules, finding they violate federal securities law. flag The ruling is a setback for Nasdaq's efforts to promote board diversity among listed companies.

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