TBA Law Blog


Posted by: Azya Thornton on Jan 17, 2025

Tennessee Attorney General Jonathan Skrmetti has announced a settlement with BlackRock Inc. resolving allegations that the global investment firm misled consumers about the role of environmental, social and governance (ESG) factors in its investment practices. The settlement concludes a lawsuit filed by the state of Tennessee in 2023 under the Tennessee Consumer Protection Act. According to a press release, BlackRock must increase its disclosure, implement compliance measures, ensure communications with investors are consistent and commit to casting shareholder votes solely in the financial interests of investors. As part of the settlement, Tennessee will dismiss the lawsuit without prejudice, reserving the right to refile if BlackRock fails to substantially comply.