Over the past several months, Missouri and Florida have gone on the offensive against the nation’s largest proxy advisors related to what they deemed “radical” agendas in providing proxy advice. In Texas, two of the largest proxy advisors, Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co., LLC (“Glass Lewis”), punched first, filing separate
DOJ and FTC File Statement of Interest Supporting Antitrust Lawsuit Against Asset Managers’ Climate Goals
By Drake Morgan, Derick D. Dailey & Jeane A. Thomas on
On May 22, 2025, the U.S. Department of Justice and the Federal Trade Commission (the “U.S. Antitrust Agencies”) filed a Statement of Interest supporting thirteen states’ claims that asset managers violated antitrust and consumer protection law through their environmental, social, and governance (“ESG”) activities. The Statement, which opposes the asset managers’ motion to dismiss the…
Florida Attorney General Announces Investigation Into Proxy Advisors’ ESG and DEI Policies as Unfair Trade Practices or Antitrust Violations
Florida Attorney General James Uthmeier is investigating two leading proxy advisors’ advice involving the consideration of ESG and DEI to determine if the advice constitutes deceptive or unfair trade practices under FL law or a violation of FL antitrust law. Click here to read the full alert.