A group of 11 Republican AGs announced that they have sent letters to multiple financial institutions (collectively, “Financial Institutions”) warning that the companies’ diversity, equity, and inclusion (DEI) and environmental, social, and governance (ESG) commitments may violate state and federal laws and risk enforcement action. The letter states that the Financial Institutions appear to be implementing…

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In a webinar hosted on January 14, 2025,  the Cozen O’Connor State AG Group, in partnership with the U.S. Chamber of Commerce Institute for Legal Reform, discussed the impacts of new federal agency leadership and the role of state attorneys general as regulators and enforcers, with a particular focus on four critical sectors: financial services,…

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A group of 15 Republican AGs sent a letter to BlackRock, Inc.’s fund directors (collectively, “BlackRock”) reiterating concerns as to whether the investment adviser has sufficiently investigated its ESG policies and potential conflicts of interest. In the letter, the AGs voice concerns over BlackRock’s conflicting statements raised in Tennessee’s December 2023 lawsuit against BlackRock regarding…

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Texas AG Ken Paxton announced that, “until further notice,” Barclays is no longer permitted to purchase or underwrite public securities, or otherwise be a party to a covered contract relating to the public security, after Barclays indicated it would not respond to requests for information regarding its alleged “net zero” carbon emissions commitments. As stated…

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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 about the extent to which environmental, social, and governance (ESG) goals affect its investment strategies. The complaint alleges that BlackRock downplayed the extent to…

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