Glass Lewis sues Texas over law limiting DEI, ESG proxy advice
In a complaint filed in Austin, Texas federal court, Glass Lewis said Texas' law was unconstitutional, violating its First Amendment right to freedom of association and protection against viewpoint discrimination.
Signed by Republican Governor Greg Abbott in June, the law targets "non-financial" advice on environmental, social and governance (ESG) matters, or diversity, equity and inclusion (DEI) matters, including for votes at shareholder meetings.
It requires proxy advisers to conspicuously tell clients that the advice is "not being provided solely in the financial interest of the company's shareholders," and to provide financial analyses supporting the advice.
The law takes effect on September 1.
Glass Lewis said the law unlawfully forces proxy advisers to broadcast Texas' preferred viewpoints when their own differ, including on hot-button issues that Republican state legislators viewed as "increasingly political."
It also said it will likely lose clients and suffer reputational harm if forced to tell clients its advice is bad for them and not in shareholders' financial interests.
Texas' Republican Attorney General Ken Paxton, who enforces the state's laws and is running for U.S. Senate in 2026, is the only defendant. His office did not immediately respond to a request for comment.
Glass Lewis said it has more than 1,300 institutional investor clients, including more than one dozen in Texas.
Many companies have this year scaled back or ended their support for DEI programs after Republican U.S. President Donald Trump campaigned against them.
The case is Glass Lewis & Co v Paxton, U.S. District Court, Western District of Texas, No. 25-01153.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Metro
18 minutes ago
- Metro
Donald Trump's caddy drops golf ball moments before president takes a shot
Donald Trump may be failing to secure a ceasefire in Ukraine, or stop the speculation about the unreleased Jeffrey Epstein files, or reduce prices of food in the US – this list could go on – but his ability to bend reality is in top form. His Air Force One touched down at Prestwick Airport in Scotland on Friday and the US president wasted no time hitting the golf course – or having his caddy hit it for him, actually. Footage circulating online shows the Republican allegedly cheating at golf with some help from staff. Two caddies – people who assists golfers by carrying their bags and with some strategic advice – are seen walking next to Trump who is driving in a cart. Both walk ahead and one is spotted discreetly dropping the golf ball to the ground. Trump then gets out of the vehicle and approaches it, appearing to pretend that it is the shot he made. 'Trump working hard to bring down grocery prices,' the caption of the video reads, referencing his campaign promises to tackle inflation and costs in the US. Of course, a long line of accusations that the president cheats follow in the comments on X. Political commentator, Richard Angwin, wrote under: 'His shameless golf cheating, having his caddie drop a ball for a better lie outside the bunker, exposes the same fraudulent tactics he employs in politics, proving once again he's a con artist through and through.' Another comment read: ' Caddy did that so smoothly. I can only imagine how many times he has done it.' Soon enough, the phrase 'commander in cheat' was trending on X amid the allegations. The president has boasted of winning dozens of golf championships – all on courses he owns – including five this year alone. Rick Reilly, a former Sports Illustrated journalist who has played with him and has interviewed dozens of people familiar with his game, claimed this is a lie 'that is so over-the-top Crazytown it loses all credibility among golfers the second it is out of his mouth.' More Trending In his book 'Commander in Cheat: How Golf Explains Trump', he said that Trump has likely won none of the club championships he claims to have. Trump's four-day trip to the UK is not an official visit. He is due to return for a meeting with state heads in September. The main purpose appears to be to play golf at his two courses – Trump International at Menie in Aberdeenshire and Trump Turnberry in South Ayrshire. Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: Man shouting 'death to Trump' tackled by passengers on EasyJet flight to Glasgow MORE: Prince Andrew among 100 people who could be dragged into Epstein scandal MORE: New arrest in cold case of mum killed 30 years ago walking home from shops
The Herald Scotland
an hour ago
- The Herald Scotland
Bondi called for release of Epstein files. What is she doing now?
Now, Bondi, 59, finds herself at the heart of the debate over whether more information will be disclosed on the alleged sex trafficker. More: 'Terrific guy': The Trump-Epstein party boy friendship lasted a decade, ended badly Despite his death six years ago, Epstein's case continues to haunt the headlines because of rampant speculation about which rich and powerful people might have joined him in sexually abusing minors. Bondi has said there was no client list in Epstein's criminal file. But President Donald Trump's name reportedly appears in the documents, and he was a repeat passenger on Epstein's private jet when the two were friends in the 1990s. Trump has denied wrongdoing or visiting Epstein's private island, where much of the abuse allegedly occurred. "The fact is that the President kicked him out of his club for being a creep," said White House Communications Director Steven Cheung, referring to Trump's Mar-a-Lago club in South Florida. Meanwhile, Bondi served as Florida's state attorney general years after Palm Beach County authorities convicted Epstein on prostitution charges and released him in 2009 after 13 months in detention, which was mostly work release. Federal authorities chose not to prosecute Epstein at all, in what critics called the legal "deal of the century." After a Miami Herald investigation of his case, New York-based federal prosecutors charged Epstein in July of 2019 with sex trafficking minors. He died in jail a month after his arrest and long before any criminal trial could happen, in what the New York medical examiner ruled and the Justice Department confirmed was a suicide. Now Bondi has asked federal judges to release grand jury transcripts in the case. One has already turned her down and another asked for more documentation. And federal prosecutors and Bondi's No. 2, Deputy Attorney General Todd Blanche, met July 24 and again on 25 with Ghislaine Maxwell, an Epstein associate serving a 20-year federal prison sentence for conspiracy to sexually abuse minors. Here are the highlights of Bondi's involvement in the case. Did Bondi investigate Epstein as Florida attorney general? After years of state-level investigation, Epstein pleaded guilty in 2008 to one count of soliciting prostitution and one count of soliciting prostitution from someone under age 18. During the inquiry, then-Palm Beach Police Chief Michael Reiter disagreed with how Palm Beach state attorney Barry Krischer was handling the case and invited then-U.S. Attorney Alexander Acosta, an appointee from the George W. Bush administration, to investigate. But in what critics called the legal "deal of century," Epstein served 13 months on the two state charges under an agreement not to charge him federally. Bondi, a Republican, was elected statewide more than a year after Epstein was released and served as Florida's attorney general for two terms from 2011 to 2019. State attorneys such as Krischer are elected independently and don't report directly to the attorney general. Dave Aronberg, a Democrat who stepped down this year after a dozen years as Palm Beach state attorney, said the Epstein matter never went before Bondi. "Zero overlap," said Aronberg, who also served as Florida's state drug czar under Bondi. "It was long over by the time she got there." Robert Jarvis, a law professor at Nova Southeastern University in Fort Lauderdale, Florida, said after state and federal prosecutors concluded their case there appeared to be nothing more for Bondi to pursue. "There was no reason to start a new investigation," Jarvis said, unless new evidence was brought to Bondi's office. Bondi said Epstein never should have been released Still, with accusations of more than 1,000 victims in the case, Republicans and conspiracy theorists have long argued for the release of additional information because of skepticism Epstein died by suicide and demands for a presumed client list that could lead to more prosecutions. Two days after Epstein died, Bondi told Sean Hannity on Fox News on Aug. 12, 2019, that he should have never been let out of custody. More: Disgraced financier Jeffrey Epstein, awaiting sex trafficking charges, dead of apparent suicide "Well, he should have never been released when he was in jail serving his jail time. Someone who is accused of sex crimes convicted should never be on work release," Bondi said. "So what do we have now? We have a dead, most likely pedophile, coward, and we have very brave victims who wants to face the person that did this to them." Bondi pledged to release information after becoming attorney general Shortly after her early February confirmation as Trump's second-term U.S. attorney general, Bondi again highlighted the case and began pledging to release files. Fox News host John Roberts asked Bondi on Feb. 21 whether she would release the list of Epstein's clients. "Will that really happen?" he asked. "It's sitting on my desk right now to review," Bondi replied. "That's been a directive by President Trump. I'm reviewing that." Then Bondi told Fox News host Jesse Watters on Feb. 26 more information would be released. "I think tomorrow, Jesse, breaking news right now, you're going to see some Epstein information being released by my office." She then added, "What you're going to see, hopefully tomorrow, is a lot of flight logs, a lot of names, a lot of information." The Justice Department released documents on Feb. 27 that had previously been leaked, but were never formally released. "The Department remains committed to transparency and intends to release the remaining documents upon review and redaction to protect the identities of Epstein's victims," a department statement said. The lack of revelations in the release disappointed lawmakers and others who expected bombshells from the release. "THIS IS NOT WHAT WE OR THE AMERICAN PEOPLE ASKED FOR and a complete disappointment," Rep. Anna Paulina Luna, R-Florida, wrote on social media Feb. 27. "GET US THE INFORMATION WE ASKED FOR!" Bondi made a point of noting in a Feb. 27 letter to FBI Director Kash Patel that she had requested "the full and complete files related to Jeffrey Epstein" but learned she received only a fraction of them. She initially received about 200 pages, "which consisted primarily of flight logs, Epstein's list of contacts, and a list of victims' names and phone numbers," she wrote. But the FBI field office in New York notified her that day there were thousands more pages of records, audio and video recordings, and other materials related to Epstein and his clients. "There will be no withholdings or limitations to my or your access," Bondi wrote Patel. "The Department of Justice will ensure that any public disclosure of these files will be done in a manner to protect the privacy of victims and in accordance with law, as I have done my entire career as a prosecutor." Appearing on Hannity's FOX News program, Bondi on March 3 said that an order she issued in February resulted in a "truckload" of Epstein files being delivered by the FBI. "Thousands of pages of documents. I have the FBI going through them," Bondi said. "We believe in transparency, and America has the right to know." Justice Department release on Epstein sparks criticism Against that backdrop, the Justice Department released a memo July 7 that said a "systematic review revealed no incriminating 'client list'" and confirmed Epstein died by suicide in August 2019. "Perpetuating unfounded theories about Epstein serves neither" to combat child exploitation nor bring justice to victims, according to the memo. "No further disclosure would be appropriate or warranted." More: Family feud: Trump at odds with MAGA movement on multiple fronts The memo set off a firestorm of criticism from inside Trump's "Make America Great Again" movement and calls for the release of more information: Charlie Kirk, the head of Turning Point USA, listed 10 things he thinks should be done about the files and witnesses. Kirk later said he was done talking about Epstein and trusted his friends in the administration. Rep. Lauren Boebert, R-Colorado, said "no one is satisfied with what has been received of lack thereof," on "The Benny Show." Reps. Marjorie Taylor Greene, R-Georgia, and Thomas Massie, R-Kentucky, cosponsored a petition to force a House vote on releasing the files. The next day at a White House Cabinet meeting, Trump discouraged reporters from asking questions about Epstein. "Are people still talking about this guy, this creep? That is unbelievable," Trump said as he preferred to talk about legislative victories and recovery efforts for Texas flood damage. "It just seems like a desecration. But you go ahead." Two seats to Trump's right at the July 8 Cabinet meeting, Bondi then tried to clarify her remarks from the February interview with John Roberts that she was referring to the entire Epstein file, rather than a specific client list. "I was asked a question about the client list and my response was, 'It's sitting on my desk to be reviewed,' meaning the file, not the client list," she told reporters. Bondi also said jailhouse video from New York was missing a minute because of a nightly reset for the aged recording system. And she said any of Epstein's videos from the investigation would never "see the light of day" because they contain child pornography. "Also, to the tens of thousands of video, they turned out to be child porn downloaded by that disgusting Jeffrey Epstein," Bondi said. "Child porn is what they were. Never going to be released. Never going to see the light of day." Lawmakers seek release of Epstein file The Trump administration denials raised suspicions there was something to hide. Democrats piled on with Republicans to demand more information. Rep. Ro Khanna, D-California, joined Massie on the proposed legislation that aims to force the Justice Department to release all its records related to Epstein. More: Is Trump in the Epstein files? Before Bondi's reported alert, here is where he appeared By mid-July, with the tempest rising, Trump directed Bondi to seek the release of grand jury testimony in the case. Bondi filed three requests July 18. It wasn't enough to help out House Speaker Mike Johnson, R-Louisiana, who suspended House floor action days before the scheduled August recess rather than face a vote on Massie's legislation. Johnson, a close Trump ally, said his decision for lawmakers' early dismissal was to "give the president space" to resolve questions about the investigation. He added that members of Congress were threading a fine needle trying to secure the release of information about Epstein while protecting his victims. Trump "wants maximum transparency but he's also very insistent that we do not subject people who have already been victims of unspeakable crimes to further public scrutiny," Johnson told reporters July 22. "It would be a very dangerous thing to put those people's names out or do a release of information in a way that is haphazard, where they could be easily unmasked." More: Republicans still have an Epstein dilemma. Now they have to face voters. "As things are revealed and, I hope will take place quickly, you will see that it is yet another Democrat CON JOB," Trump wrote on social media July 24. "Hopefully, the Grand Jury Files will put an end to this HOAX. Everyone should see what is there, but people who are innocent should not be hurt." Judges review requests to unseal Epstein file One big challenge for Bondi and the Trump administration as they push for more disclosures: Grand jury evidence traditionally remains confidential. U.S. District Judge Robin Rosenberg in West Palm Beach quickly refused to unseal the documents. The judge, an appointee of President Barack Obama, said the Bondi-led department's request to release grand jury documents from 2005 and 2007 did not meet any of the extraordinary exceptions under federal law that could make them public. Rosenberg said her "hands are tied." U.S. District Judge Paul Engelmayer in New York, another Obama appointee who presided over Epstein associate Ghislaine Maxwell's case, said there are exceptions to the secrecy rules but that Bondi hadn't invoked them. Engelmayer set a July 29 deadline for the government to explain why the disclosure is being sought, what specific information should be disclosed and whether grand jury witnesses are still alive. He also asked for a complete set of transcripts, a redacted version for potential release and a list of other evidence such as exhibits. Maxwell, an associate of Epstein who is serving a 20-year federal prison sentence for conspiring to sexually abuse minors, has until Aug. 5 to say whether she agrees to disclosure or opposes it. Victims face an Aug. 5 deadline to state their positions. "The Court intends to resolve this motion expeditiously," Engelmayer wrote. "However, the Court cannot rule on the motion without additional submissions." Federal prosecutors meet with Epstein associate Ghislaine Maxwell Deputy Attorney General Todd Blanche - who previously served as Trump's private lawyer defending him in a series of criminal cases - met July 24 and 25 with Maxwell to find out what more she can say about her dealings with Epstein. "If Ghislaine Maxwell has information about anyone who has committed crimes against victims, the FBI and the DOJ will hear what she has to say," Blanche in a statement on social media on July 22 while planning the meeting. But Rep. Dan Goldman, D-New York, argued Blanche's effort was to protect Trump "by tacitly floating a pardon for Maxwell in return for information that politically benefits President Trump." "Maxwell's information is only as credible as any corroboration found in the Epstein files, including recordings, witness interviews, electronic communications, and photographs and videos," said Goldman, a former federal prosecutor who served as lead counsel in Trump's first House impeachment and battled against a presidential defense team that included Bondi. "Do not be fooled: this latest delay tactic is yet another effort to conceal the Epstein files." The same day as the Justice Department's announcement, the House Oversight and Government Reform Committee agreed to subpoena Maxwell for questions from lawmakers. Three days later, as he readied to leave on a trip to Scotland, Trump responded to reporters that he hasn't considered pardoning Maxwell. Contributing: Nick Penzenstadler and Holly Baltz of The Palm Beach Post
The Herald Scotland
an hour ago
- The Herald Scotland
What is Trump's approval rating in July? Immigration, tariff polls
See last week's polling: Trump approval drops in new poll as more Americans oppose immigration policies In a July 25 poll from Emerson College, the president had a 46% approval rating and 47% disapproval. That's a one-point increase on both counts from the survey's June results. "About six months into the second Trump administration, the president's approval rating has stabilized in the mid-40s," the poll's executive director, Spencer Kimball, said in statement. "While his disapproval has steadily increased about a point each month since the inauguration and now stands at 47%." In a Gallup poll released a day prior, the president's approval rating was significantly lower, coming in at 37%. The pollsters called it the lowest mark of his second term and only a few points higher than his all-time-low rating of 34% at the end of his first term. Both polls showed what has long been a deep divide between Republicans and Democrats when it comes to Trump and his policies, especially over immigration, foreign policy and the economy. Here's a round-up of some of the last week's polls. Emerson College poll 46% approve 47% disapprove Trump notched his highest single-issue approval rating on immigration, the poll said, with 45% approving and 46% disapproving of Trump's policies. The highest disapproval numbers were on the economy, with a 41% approval rating and 51% disapproval. That continued to sink with Trump's tariff policy, with 36% approving while 50% disapproved. Trump's support - both on overall job performance and on specific issues - was fueled by Republican respondents in the poll. Just 10% of Democrats said they like the president's job performance, compared to 87% of Republicans and 38% of independents. The difference support was widest by party on immigration, with 12.9% of Democrats approving compared to 80% of Republicans. More: 16% of voters approve of Trump's handling of Epstein files, poll shows The survey of 1,400 registered voters was conducted July 21-22 and has a margin of error of ?2.5 percentage points. Gallup poll 37% approve 58% disapprove The poll marks a 10-point drop from the 47% approval rating Americans gave Trump at the beginning of his second term in January. About 29% of independent voters said they're pleased with Trump's job performance in the new survey, the lowest Gallup has tracked with the group in either of Trump's two terms. It's a 17-point decline from the 46% the president enjoyed among independents at the start of his second term earlier this year. Trump's ratings on some of the most significant issues facing the country also faltered, according to Gallup pollsters. He received the strongest support for his handling of the conflict with Iran, at 42% approving, followed by foreign policy at 41%. The president's handling of Iran - where U.S. troops bombed three nuclear sites last month - earned Trump the greatest support from independents, at 36%, while the federal budget gave him the lowest at 19%. The survey of 1,002 Americans was conducted July 7-21, and has a margin of error of ?4 percentage points. Fox News poll 46% approve 54% disapprove Trump's support was lowest on issues of inflation and tariffs, with 36% of respondents backing the way Trump has approached two central forces in America's economy. He received his highest ranking for border security, with 56% of respondents approving and 44% disapproving. Along party lines, support was highest among Republicans, with 88% backing the president. Thirty-seven percent of independents and 7% of Democrats agreed. The survey was conducted by Beacon Research/Shaw & Co. Research. 1,000 registered voters were surveyed July 18-21, and the poll has a margin of error of ?3 percentage points. Kathryn Palmer is a national trending news reporter for USA TODAY. You can reach her at kapalmer@ and on X @KathrynPlmr.
