News & Analysis as of

State Attorneys General Environmental Social & Governance (ESG) Investment

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

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

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

The State AG Report – 12.21.2023

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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

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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

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

Troutman Pepper Locke on

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

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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

Cozen O'Connor

AG Coalition Objects to Climate Change-Based ESG Investments

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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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