Tennessee files groundbreaking lawsuit against BlackRock over ESG strategies
Tennessee has filed a lawsuit against BlackRock, the world's largest asset manager, alleging that the company misled investors about its commitment to sustainable investing. The state claims that BlackRock's environmental, social, and governance (ESG) strategies were not aligned with its marketing materials and that the company failed to disclose potential conflicts of interest. This lawsuit highlights the growing scrutiny and legal challenges faced by asset managers in relation to ESG investing.