State Sues Blackrock Over ESG Considerations - Articles

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Posted by: Stacey Shrader Joslin on Dec 18, 2023

Tennessee Attorney General Jonathan Skrmetti recently filed what his office says is the “first-of-its-kind consumer protection lawsuit” against asset manager BlackRock Inc. The complaint alleges that Blackrock made false or misleading representations to current and potential consumers about the extent to which Environmental, Social and Governance (ESG) considerations affected its investment strategies. Skrmetti said, “BlackRock’s inconsistent statements about its investment strategies deprived consumers of the ability to make an informed choice.” The enforcement action seeks injunctive relief, civil penalties and recoupment of the state’s costs. Read more in a release from the attorney general’s office.