Companies that want to go public without a diverse board may still have to get through Goldman Sachs

"The Fifth Circuit Court of Appeals struck down Nasdaq's efforts to push companies that want to list their stock on its exchange to diversify their boards or explain themselves."

"Goldman Sachs, a top underwriter, requires public clients to have at least one diverse board member, increasing the requirement to two diverse members including one woman in 2021."

"Legal experts argue that the ruling should not impact Goldman Sachs' board diversity mandate due to its strategic position in the market."

"The judges stated the SEC's limitations on enforcing diversity disclosures, emphasizing that the focus is on preventing fraud and promoting competition instead."

Read at Business Insider