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Investment State Attorneys General

Mintz

Red State AGs' ESG Antitrust Complaint Against Asset Managers Survives Motion to Dismiss

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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

Mintz

Missouri AG Launches Investigation of Proxy Advisory Firms Related to Alleged ESG-Focused Recommendations

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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

Hinch Newman LLP

New York Attorney General James Freezes $300,000 in Cryptocurrency Linked to Alleged Scammers Targeting New Yorkers

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On June 18, 2025, the New York State Attorney General announced that her office stopped an allegedly fraudulent cryptocurrency investment scam that targeted hundreds of Russian-speaking New Yorkers in Brooklyn and across the...more

Troutman Pepper Locke

Crypto Investment Firm Agrees to Pay New York AG $200M to Resolve Market Manipulation Allegations Regarding Sale of Failed Token

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On March 24, cryptocurrency investment firm Galaxy Digital Holdings (Galaxy) entered into an assurance of discontinuance (AOD) with New York Attorney General (AG) Letitia James to resolve allegations that Galaxy engaged in...more

Jenner & Block

Client Alert: Navigating Remaining Risks in the New Crypto and Digital Assets Environment

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A rising tide does not necessarily lift all boats when it comes to increasing compliance in the world of crypto asset investments. In fact, the existence of a bull market or a seemingly friendly regulatory environment can...more

McGuireWoods LLP

California Legislature Reconsiders Bills Scrutinizing Healthcare Investors

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Recently, the California Legislature introduced two bills that may impact private equity healthcare investments in the state, including formalizing corporate practice restrictions and requiring advance notice for certain...more

Groom Law Group, Chartered

This Week From the Hill (February 9 – February 15, 2025)

Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more

Dorsey & Whitney LLP

Massachusetts Expands Healthcare Material Change Law, Adds Private Equity in Scope

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On January 8, 2025, the governor of Massachusetts signed into law H.5159, An Act enhancing the market review process (the “Act”). Among various other healthcare market oversight enhancements, the Act expands the authority of...more

Kelley Drye & Warren LLP

State AGs Combat ESG: Multistate Coalition Sues BlackRock, State Street, and Vanguard for Alleged Antitrust & Consumer Violations...

Texas Attorney General Ken Paxton, joined by ten other Republican-led states, filed a lawsuit in the U.S. Eastern District of Texas against BlackRock, State Street, and Vanguard, accusing them of illegally conspiring to...more

McDermott Will & Schulte

California Governor Vetoes AB 3129

California Governor Gavin Newsom vetoed AB 3129 on September 28, 2024. AB 3129 would have required private equity groups and hedge funds to notify, and receive the consent of, the California Attorney General for certain...more

Sheppard Mullin Richter & Hampton LLP

DC Attorney General Settles with Title Insurance Companies Over Alleged Kickback Scheme

On August 29, the DC Attorney General’s office announced settlements with four title insurance companies over their widespread use of illegal kickbacks in violation of DC’s Consumer Protection Procedures Act (CPPA). Under the...more

Troutman Pepper Locke

Massachusetts Issues Advisory Opinion With Implications for Private Equity Firms’ Use of AI

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Troutman Pepper's latest white paper explores the heightened focus on artificial intelligence (AI) by various state attorneys general (AGs), particularly in relation to data privacy laws, consumer protection statutes, and...more

Foley Hoag LLP - White Collar Law &...

Tennessee v. BlackRock: How this Case Informs How We Look Back and Look Ahead at ESG

This is the final post in our 2024 Year in Preview series examining important trends in white collar law and investigations in the coming year... Politicians in Republican-led states have painted a target on environmental,...more

Cozen O'Connor

Republican AGs Wade Into CAT Fight

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A coalition of 23 Republican AGs, led by Arkansas AG Tim Griffin, filed an amicus brief in the U.S. Court of Appeals for the Eleventh Circuit in American Securities Association v. U.S. Securities and Exchange Commission...more

Cozen O'Connor

The State AG Report – 12.21.2023

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Rite Aid Settles Allegations its Facial Recognition...more

Cozen O'Connor

AG Skrmetti Sues BlackRock over ESG Investment Strategies

Cozen O'Connor on

Tennessee AG Jonathan Skrmetti filed a lawsuit against BlackRock, Inc. that accuses the world’s largest asset manager of violating state consumer protection laws by making false and misleading representations to consumers...more

Cozen O'Connor

Don’t Count Your Blessings Just Yet

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Arkansas AG Tim Griffin and the FTC settled with BINT Operations LLC and two of its officers (collectively, “BINT”) to resolve allegations that the company violated federal and state consumer protection laws by running a...more

Nelson Mullins Riley & Scarborough LLP

When James Met Gary, Howey, and Hinman: New York AG Takes Aim at KuCoin (but hits Ethereum) in Latest Crypto Crackdown

In his famous 2018 speech, William Hinman, Digital Asset Transactions: When Howey Met Gary (Plastic), the Director of the U.S. Securities and Exchange Commission (“SEC”), asked...more

Cozen O'Connor

Democratic AGs Oppose Legislative Efforts to Prevent ESG-Related Investment Decisions

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A coalition of 21 Democratic AGs wrote a letter to Congressional leaders opposing a joint resolution to overturn a recent DOL rule on private-sector retirement investments. The rule clarifies that fiduciaries of...more

Troutman Pepper Locke

Texas AG Takes Next Step to Stop New DOL ESG Investing Rule

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On February 22, Texas Attorney General Ken Paxton (R) moved for a preliminary injunction as a next step after previously filing a multistate lawsuit against the Biden administration to stop a new Department of Labor (DOL)...more

Cozen O'Connor

ESG Practices No Longer in the Crosshairs of Arizona AG Office

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Arizona AG Kris Mayes announced that Arizona will no longer participate in investigations into financial institutions’ consideration of environmental, social, and governance (ESG) factors when choosing plan investments....more

Cozen O'Connor

The State AG Report – 2.2.2023

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG Campbell Settles with Massachusetts Auto Dealer over...more

Cozen O'Connor

AG Coalition Accuses Proxy Advisors of Prioritizing Environment, Diversity over Financial Gain for Clients

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A group of 22 AGs wrote a letter to proxy advisory firms International Shareholder Services, Inc. (ISS) and Glass, Lewis & Co. accusing the companies of potentially violating federal and state laws regarding the advice and...more

Shipkevich PLLC

NY Attorney General’s Office Fall Round-Up: AG Letitia James’ Actions & Initiatives Related to Cryptocurrency Since August 2021

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On November 15, 2022, the New York Attorney General’s Office released its Fall Round-Up (“Round-Up”) describing major actions and initiatives implemented by New York Attorney General Letitia James (“AG James”) since August...more

Cozen O'Connor

AG Coalition Objects to Climate Change-Based ESG Investments

Cozen O'Connor on

A group of 19 AGs, led by Arizona AG Mark Brnovich and Nebraska AG Doug Peterson, sent a letter to Laurence D. Fink, CEO of BlackRock, Inc., seeking clarification on whether BlackRock’s actions violate state laws in that they...more

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