US political and legal pressure on DEI is creating a growing disconnect with investor expectations, forcing boards to navigate conflicting risks between regulatory exposure and shareholder governance norms.

The Coca-Cola Company appears to have filed no ‘no action’ requests for the first time since 2020 despite changes from the US Securities and Exchange Commission (SEC) giving companies greater power to exclude shareholder proposals.

US telecommunications giant AT&T has U-turned on its decision to exclude a diversity, equity and inclusion-focused (DEI) shareholder proposal from its 2026 proxy materials following a lawsuit from investors.

Shareholders have sued US telecommunications giant AT&T for excluding a DEI-focused proposal as heightened risks created by the US SEC’s change in approach to ‘no action’ requests are highlighted.

A challenge to US President Donald Trump’s high-profile executive orders against diversity, equity and inclusion (DEI) programmes has been rejected by an appeals court.