In a first-of-its-kind civil lawsuit, the State of Tennessee is challenging BlackRock – the world's largest financial asset manager – in a move that legal experts say could spell trouble for "woke" Environmental, Social, and Governance initiatives.
According to the lawsuit filed by Tennessee Attorney General Jonathan Skrmetti, BlackRock allegedly violated the Volunteer State's consumer protection laws by boasting two combating positions regarding its investment strategies, misleading consumers. BlackRock claims it is committed to both obtaining maximum financial returns for its clients and prioritizing investment policies that advance environmental goals.
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Marisa Herman ✉
Marisa Herman, a Newsmax senior reporter, focuses on major and investigative stories. A University of Florida graduate, she has more than a decade of experience as a reporter for newspapers, magazines, and websites.