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The Climate Litigation Database

Glass, Lewis, & Co. v. Paxton

Geography
Year
2025
Document Type
Litigation
Part of

About this case

Filing year
2025
Status
Appeal of preliminary injunction dismissed.
Docket number
25-50771
Court/admin entity
United StatesUnited States Federal CourtsUnited States Court of Appeals for the Fifth Circuit (5th Cir.)
Case category
Federal Statutory Claims (US)Other Statutes and Regulations (US)Constitutional Claims (US)First Amendment (US)Constitutional Claims (US)Fourteenth Amendment (US)Constitutional Claims (US)Other Constitutional Claims (US)Securities and Financial Regulation (US)
Principal law
United StatesCommerce ClauseUnited StatesContracts ClauseUnited StatesEmployee Retirement Income Security Act of 1974 (ERISA)United StatesFirst AmendmentUnited StatesFourteenth Amendment—Due ProcessUnited StatesInvestment Advisers Act of 1940United StatesSupremacy ClauseUnited StatesTexas Senate Bill 2337 (SB 2337)
At issue
Challenge to a Texas law that requires proxy advisors to disclose that their advice is “not provided solely in the financial interest of the shareholders of a company” if is wholly or partly based on "nonfinancial factors" such as ESG.
Topics
,

Documents

Filing Date
Document
Type
Topics 
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Search results
11/25/2025
Appeal of preliminary injunction dismissed.
Decision
11/24/2025
Motions for voluntary dismissal filed by Attorney General Ken Paxton and intervenor-defendant appellants.
Motion

Summary

Challenge to a Texas law that requires proxy advisors to disclose that their advice is “not provided solely in the financial interest of the shareholders of a company” if is wholly or partly based on "nonfinancial factors" such as ESG.

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Group
Topics
Economic sector
Finance