06:13 AM EST, 12/12/2024 (MT Newswires) -- Nasdaq (NDAQ) rules requiring companies listed on the exchange to include women and minorities on their boards or explain why they do not were rejected by a US appeals court, multiple media outlets reported late Wednesday.

The New Orleans-based 5th US Circuit Court of Appeals voted 9-8 that the rules, approved by the US Securities and Exchange Commission, violated federal law, Reuters reported.

Nasdaq did not immediately respond to an MT Newswires request for comment.