How Ethnic Diversity on Boards of Directors Shapes Supply Chains

By Yiwen Jin, Minjia Li and Jenny Li Zhang February 7, 2025 by renholding

In a new paper, we investigate whether and how ethnic diversity on boards of directors helps shape a firm’s supply chain. Our empirical findings from a sample of U.S. S&P 1500 firms from 2008 to 2020 show a positive effect …

How Corporate Disclosures and Consumer Privacy Laws May Conflict

By Megan W. Shaner November 19, 2024 by renholding

The modern economy is fueled by personal data. Described as the “new gold” or “new oil” of today’s digital economy, data are being monitored, collected, and analyzed by public and private entities for strategic and economic value. Coupled with artificial …

Disclosure, Greenwashing, and the Future of ESG Litigation

By Barbara Ballan and Jason J. Czarnezki October 18, 2024 by renholding

In recent years, consumers, investors and regulators have become increasingly aware of the climate crisis and accompanying risks, leading to increased demand for transparency and accountability from corporations about their business practices and sustainability footprints. This, in turn, has led …

Wachtell Lipton Discusses California Climate Disclosure Law

By Ronald C. Chen, Raaj S. Narayan and Carmen X. W. Lu October 11, 2024 by renholding

Last week, California Governor Gavin Newsom signed into law Senate Bill 219, which applies broadly to public and private companies “doing business” in California. The law will require companies that have total annual revenues of over $1 billion dollars …

Wachtell Lipton Discusses the SEC’s Disbanding of Its ESG Enforcement Task Force

By John F. Savarese, Wayne M. Carlin, David B. Anders and Carmen X.W. Lu September 20, 2024 by renholding

The U.S. Securities and Exchange Commission (“SEC”) has disbanded its Climate and ESG Task Force in the Division of Enforcement. The Task Force was established in March 2021 with the purpose of identifying ESG-related misconduct, including material gaps or misstatements …

Davis Polk Discusses Possible Delay of California Climate Disclosure Laws

By David A. Zilberberg, Loyti Cheng and Michael Comstock July 24, 2024 by renholding

The three “ﬁrst-in-the-nation” California climate-related disclosure laws enacted late last year are each the subject of proposed amendments making their way through the legislative process. These proposed amendments, which require further legislative approvals and the governor’s signature, would delay key …

Goodwin Procter Discusses Significant California and New York Regulation of the Virtual-Currency Industry

By Ximeng (Sammy) Tang, Kimberly Monty Holzel and Julia L. Dempewolf May 10, 2024 by renholding

California Digital Financial Assets Law

California enacted its own version of New York’s “BitLicense” law, the Digital Financial Assets Law (DFAL),[1] becoming one of the first US states to implement a virtual-currency-specific regulatory regime. Prior to the enactment of …

Morrison & Foerster Discusses California Plan to Criminally Prosecute Antitrust Violations

By Lisa M. Phelan, Bonnie Lau, Eliot A. Adelson, Megan E. Gerking and Jamis Barcott March 21, 2024 by renholding

In the latest development signaling California’s increasing efforts to police antitrust violations, on March 6, 2024, Senior Assistant Attorney General Paula Blizzard announced that the California Office of the Attorney General (“California AG”) Antitrust Section is reviving its criminal antitrust …

Paul Weiss Discusses New California Non-Compete Laws

By Jarrett R. Hoffman, Jean M. McLoughlin, Liza M. Velazquez, Pietro J. Signoracci and Rachel Rosenberg January 30, 2024 by renholding

California enacted two non-compete laws, Senate Bill 699 (SB 699) and Assembly Bill 1076 (AB 1076), both of which went into effect on January 1, 2024. These laws, discussed in more detail below, add new requirements and penalties to California’s

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A Comparative Analysis of the SEC’s Climate Disclosure Proposal

By Charlie Cibrario and Cynthia Hanawalt December 13, 2023 by renholding

In the global effort to protect the earth’s climate, the pace of regulation is rivaled only by the speed of technological innovation.

What seemed improbable just a few years ago – requiring large companies to measure and report annual greenhouse …

Cleary Gottlieb Discusses Roadblocks for Plaintiffs in Generative Artificial Intelligence Lawsuit

By Angela Dunning and Lindsay Harris December 12, 2023 by renholding

On October 30, 2023, U.S. District Judge William Orrick of the Northern District of California issued an Order[1]largely dismissing without prejudice the claims brought by artists Sarah Andersen, Kelly McKernan and Karla Ortiz in a proposed class action …

Ropes & Gray Discusses the California Climate Bill Almost No One Is Talking About

By Michael Littenberg and Marc Rotter October 12, 2023 by renholding

There have been dozens – and probably hundreds – of client alerts, briefs, white papers and other thought leadership pieces on the California bills awaiting signature that will require greenhouse gas emissions (SB 253) and climate risk (SB 261) disclosures. …

Arnold & Porter Discusses California’s Corporate Emissions Disclosure and Climate-Risk Reporting Legislation

By Yuvaraj Sivalingam August 31, 2023 by renholding

The California legislature returned from summer recess two weeks ago, and two key bills regarding corporate emissions disclosures and climate-related financial risk reporting are being considered and could be sent to the governor’s desk for signature by next month.

Senator …

New California Legislation Would Be a Major Step Forward for Climate Disclosure

By Michael B. Gerrard and Eric W. Orts July 20, 2023 by renholding

The Securities and Exchange Commission regulations on climate disclosure, first proposed in March 2022 and likely to be issued in final form in October 2023,[1] have drawn considerable controversy and face an uncertain fate in the inevitable litigation.[2]…

Arnold & Porter Discusses California Challenge to Rulings Rejecting Board Diversification

By Teresa L. Johnson, Sean M. SeLegue, Amy Endicott and Ernesto M. Hernández August 10, 2022 by renholding

The California Secretary of State has appealed a decision by the Los Angeles County Superior Court striking down the second of California’s two board diversity laws, which required all publicly traded companies headquartered in California to include a minimum number …

Skadden Discusses Court Decision Striking Down Women on Boards Law

By Virginia Milstead May 20, 2022 by renholding

On May 13, 2022, a judge of the Los Angeles County Superior Court ruled in Crest v. Padilla, Case No. 19STCV27561, that California’s statute requiring California-based public companies to have one to three women on their boards of directors (S.B. …

Sullivan & Cromwell Discusses California Governor’s Executive Order on Blockchain

By Aaron Levine, Michelle Thiry, Rebecca Simmons and Sarah Payne May 11, 2022 by renholding

On May 4, California Governor Gavin Newson signed an executive order that is intended “to foster responsible innovation, bolster California’s innovation economy, and protect consumers” and “create a transparent regulatory and business environment for web3 companies which harmonizes federal and …

Arnold & Porter Discusses Attacks on Board Diversity Initiatives

By Amy Endicott, Teresa L. Johnson, Sean M. SeLegue and Kaitlin Robinson May 5, 2022 by renholding

Nasdaq’s Board Diversity Rule, approved by the Securities and Exchange Commission (SEC) in August 2021, is the subject of an ongoing, high stakes court battle in the United States Court of Appeals for the Fifth Circuit. The attorneys general of …

Sullivan & Cromwell Discusses Court Decision Invalidating California Board Diversity Law

By Patrick S. Brown, Diane L. McGimsey, Adam S. Paris, Alexandria M. Ross and John L. Savva April 6, 2022 by renholding

On April 1, 2022, in Crest v. Padilla, California Superior Court Judge Terry Green granted summary judgment in favor of plaintiffs who had challenged AB 979, one of California’s two board diversity statutes, as violating the California Constitution. The …

ISS Discusses Women on California Boards

By Paul Hodgson March 15, 2022 by renholding

Since 1995, US presidents have issued a series of annual proclamations designating March as Women’s History Month to celebrate the contributions women have made to the US and recognize the specific achievements women have made over the course of American

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Columbia Law School's Blog on Corporations and the Capital Markets

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