MONTGOMERY, Ala. (WDNews) — Alabama Attorney General Steve Marshall announced a $29.5 million settlement with The Vanguard Group in a lawsuit over environmental, social and governance investing practices.
Marshall said the agreement resolves Alabama’s claims against Vanguard in a Texas-led multistate lawsuit first filed in November 2024. The lawsuit alleges that Vanguard and other asset managers used customer investments to advance environmental goals that affected the coal industry and increased energy costs.
“Wall Street has no business using working people’s retirement accounts to wage war on American energy,” Marshall said. “When you hand your retirement to an investment firm, you’re trusting them with your family’s future, not handing them a political blank check.”…