Pursuant to the Final Judgment and Permanent Injunction (PDF) filed June 2, 2022 in the Superior Court of the State of California, County of Los Angeles, Case No. 20STCV37513 and the Final Judgment and Permanent Injunction (PDF) filed July 15, 2022 in the Superior Court of the State of California, County of Los Angeles, Case No. 19STCV27561, the Secretary of State is enjoined and prohibited from expending or causing any expenditure of the estate, funds, or other property of the State on California Corporations Code sections 301.3, 301.4, 2115.5 and 2115.6 (the "Diversity on Boards" statutes). The Secretary of State's office is not currently collecting data related to Diversity on Boards, and the Publicly Traded Disclosure Statement has been revised to remove the four data fields which collected such data.
As of January 1, 2021, all publicly held domestic or foreign corporations whose principal executive offices are located in California must meet the minimum requirements for female directors and directors from underrepresented communities on their boards as required respectively by Women on Boards (SB 826) and Underrepresented Communities on Boards (AB 979).
A publicly held corporation can report compliance through its annual Publicly Traded Corporate Disclosure Statement filed with the California Secretary of State. The Secretary of State's office is tasked to review and issue reports regarding publicly held corporations' compliance with SB 826 and AB 979. The Secretary of State's most recent report on Diversity on Boards, the March 2022 Report, was published on March 1, 2022.
Click on the links below to learn more about Women on Boards or Underrepresented Communities on Boards.