Insights

Washington – June 1, 2022: Chambers and Partners has ranked 70 Crowell & Moring lawyers in 84 rankings across 40 categories in the Chambers USA 2022 guide. In addition, 37 practice areas were also ranked in the guide. The regional and national rankings are driven by independent interviews of clients and lawyers.

There are very few issues that can unite Republican and Democratic State Attorneys General in today’s polarized political environment. Aviation is one of those issues.

On Monday, December 18, Tennessee Attorney General Jonathan Skrmetti filed a consumer protection lawsuit against BlackRock, Inc., a large, worldwide asset manager.  The lawsuit alleges that BlackRock made false or misleading representations to Tennessean consumers regarding the extent to which Environmental, Social, and Governance (“ESG”) considerations affect BlackRock’s investment strategies in violation of Tennessee’s consumer protection law.  The suit boils down to BlackRock allegedly holding (and advertising) two inconsistent positions, which arguably leads to consumer confusion and misconception.  The first position is that BlackRock necessarily focuses on maximizing a return for its investors.  The second, a focus on minimizing environmental impact, Attorney General Skrmetti argues conflicts directly with the goal of maximizing profitable return.  The lawsuit argues that BlackRock has violated Tennessee’s consumer protection law by both greenwashing and greenhushing.

Artificial intelligence, and the way it affects the law and legal enforcement, is top of mind for state attorneys general. Simply put, AI is not limited to the tech industry. AI is likely to alter, and perhaps revolutionize, every sector of industry, and within the last few months has scaled in many sectors. Firms continue to implement software strategies and hire additional employees specializing in software development. And the rise of generative AI is already creating advantages and economies of scale to larger firms, but alongside the advantages, enforcers, such as attorneys general offices, appear likely to raise concerns. State attorneys general are mindful of both the advantageous uses both firms and their own offices may employ, and cautious of consumer protection issues and potential unfair or deceptive business practices that may develop either accidentally or intentionally.