NEW: Wilson Sonsini provides answers to “frequently asked questions” regarding California’s SB 826, requiring that boards of publicly traded companies headquartered in California have at least one female board member in Female Directors in California-Headquartered Public Companies.

Wilson Sonsini discusses obligations of companies headquartered in California under the state’s board diversity statute, requiring appointment of at least one female director, which became effective on January 1, 2020, in California-Headquartered Public Companies Must Now Have a Female Director Under California Law.

Keith Paul Bishop discusses whether all publicly held California corporations or only those with a principal executive office in California must have at least one female director by the end of 2019 under California’s board diversity statute. Are Some Publicly Held California Corporations Exempt From The State’s Female Board Quota Law?

The New York Times reports that California’s board diversity statute, which requires that public companies incorporated or registered to do business in California companies have at least one female director by the end of 2019has set off a scramble to find hundreds of female directors. California Companies Are Rushing to Find Female Board Members.

Keith Paul Bishop discusses whether plaintiff’s claim in a new lawsuit, Creighton Meland, Jr. v. Alex Padilla, C.A. No. 19-2288, compl. (E.D. Cal. Nov. 13, 2019), challenging the constitutionality of California’s SB 826 is direct or derivative. California Board Gender Quota Law Challenged In Federal Court

Cooley discusses a new lawsuit, Creighton Meland, Jr. v. Alex Padilla, C.A. No. 19-2288, compl. (E.D. Cal. Nov. 13, 2019) — believed to be the second such action, following Robin Crest, et al. v. Alex Padilla, C.A. No. 27561, compl. (Cal. Super. Cal. Aug. 6, 2019) — challenging the constitutionality of California’s SB 826. Another conservative group challenges California’s board gender diversity law.

Keith Paul Bishop discusses the California Secretary of State’s filing challenging the ripeness of a taxpayer challenge to the constitutionality of California’s SB 826, arguing that it is speculative whether the Secretary of State will undertake regulations to enforce or impose fines under the law. Secretary of State Declares Enforcement of Gender Quota Law To Be “Entirely Speculative” And Casts Doubt On Rulemaking.

Keith Paul Bishop discusses a study of negative effects of California’s SB 826, imposing gender quotas on the boards of publicly traded companies headquartered in California. Business Professors Find “Large Negative Stock Market Reaction” To California’s Board Quota Law.