On August 1, 2025, a federal district court judge rejected the attempt by three major asset managers to dismiss an antitrust complaint filed by a coalition of 11 Republican state attorneys general (and subsequently receiving...more
The State of Florida's Attorney-General has increased the scope of his offensive against DEI and ESG initiatives. Not only has the Florida AG announced an investigation into climate non-profits concerning environmental...more
Last fall, a coalition of eleven Republication attorneys-general filed an antitrust complaint against three major asset managers, alleging that the asset managers' adherence to climate-friendly principles--which discourage...more
3 On July 28, 2025, the Republican Attorney-General of Florida announced that his office had “issued subpoenas to investigate whether the CDP (formerly the Climate Disclosure Project) and the Science Based Targets Initiative...more
The Missouri Attorney-General, Republican Andrew Bailey, recently announced an investigation into the two principal proxy advisory firms for potential violations of Missouri law “related to their promotion of radical...more
The SEC’s mandatory climate disclosure rule remains stayed pending the outcome of the current litigation in the Eighth Circuit. Recently, however, Republican SEC Commissioner Mark Uyeda suggested that the Trump administration...more
Last week, the Trump Administration's FTC and DOJ (Antitrust Division) filed a statement of interest in support of a lawsuit filed last November by eleven Republican state attorneys-general against three major asset managers...more
Earlier this year, each of the major US banks announced their withdrawal from the Net Zero Banking Alliance. This move, which was likely undertaken in response to the policy priorities of the Trump Administration, was...more
In December 2024, the State of New York enacted the “Climate Change Superfund Act,” which would impose retroactive fines on fossil fuel producers for greenhouse gas emissions that contribute to climate change. (New York was...more
Regulatory Updates -
There have been a couple of noteworthy developments in recent weeks concerning the mandatory climate disclosure regime enacted by California. These developments relate to SB 253 and SB 261, which...more
1/8/2025
/ Antitrust Provisions ,
California ,
Climate Change ,
Damages ,
Disclosure Requirements ,
Environmental Litigation ,
Environmental Policies ,
Fossil Fuel ,
Greenhouse Gas Emissions ,
Montana ,
State Attorneys General ,
Sustainability
The day before Thanksgiving, eleven Republican state attorneys-general (representing Texas, Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia and Wyoming) filed a lawsuit against three...more
A coalition of Republican state attorneys-general representing nineteen states (Alabama, Alaska, Florida, Georgia, Idaho, Iowa, Kansas, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South...more
Last week, the Attorney General of Michigan announced that her office “will begin seeking proposals from attorneys and law firms . . . to pursue litigation related to the climate change impacts caused by the fossil fuel...more
Earlier this week, the Eighth Circuit issued an order enabling 19 Democratic Attorneys-General--representing the District of Columbia and eighteen states (AZ, CO, CT, DE, HA, IL, MD, MA, MI, MN, NV, NM, NY, OR, RI, VT, WA,...more
Recently, the New York Attorney General filed a lawsuit against the American subsidiaries of JBS Group, the Brazilian-based beef producer, asserting that JBS had “violat[ed] New York's consumer protection statutes” through...more
Last week, it was reported that the Texas Attorney General would "not approve any public security" which was purchased or issued by a major bank due to alleged discrimination against the firearms sector. In 2021, Texas had...more
Regulatory Developments Among State AGs. Over the past few weeks, various state attorneys general have either issued guidance or initiated enforcement actions in connection with ESG ratings. Specifically, among other things,...more
Recently, both the Louisiana Attorney-General and the Indiana Attorney-General issued legal guidance that the consideration of ESG factors by investment firms likely would, in the absence of full disclosure, violate the...more
Nineteen state attorneys-general have announced their participation in an investigation spearheaded by Missouri Attorney-General Eric Schmitt into the ESG ratings produced by Morningstar Inc. and its subsidiary,...more