Tennessee Attorney General settles ESG dispute with BlackRock

(Reuters) - Tennessee Attorney General Jonathan Skrmetti announced a settlement with BlackRock (NYSE:BLK ) on Friday, resolving allegations that the asset manager misled customers regarding the role of ESG factors in its investment practices.

The settlement ends a lawsuit that the state had filed against BlackRock in December 2023.

Terms of the settlement were not disclosed.



"While investors are always free to buy cause-oriented products instead of focusing on maximum return, this settlement ensures that only investors who make a knowing choice will see their assets directed toward these non-financial goals," Skrmetti said in a statement.

BlackRock did not immediately respond to a request for comment.

Source: Investing.com