25 states sue to stop Labor Department’s ESG rule
By Brian Croce
Source: Pensions & Investments
A group of 25 states is seeking to halt the Department of Labor’s new ESG rule from taking effect.
Republican attorneys general from the 25 states, co-led by Ken Paxton of Texas and Sean D. Reyes of Utah, filed a lawsuit Thursday in U.S. District Court in Amarillo, Texas, arguing that the Labor Department’s rule undermines key protections for retirement savers, oversteps the department’s authority under the Employment Retirement Income Security Act, and is arbitrary and capricious.
Read the full article