11:00 AM EDT, 03/27/2024 (MT Newswires) -- BlackRock ( BLK ) on Wednesday received a cease-and-desist order from state authorities in Mississippi contending the asset manager repeatedly made "false and misleading statements to Mississippi investors" through its environmental, social and governance assertions.

In a statement, Mississippi Secretary of State Michael Watson said the state would fight investment companies it believes were pushing a "political agenda on Mississippians, especially through fraudulent and deceptive means." The state will seek unspecified administrative penalties to enforce its rules, Watson said.

Watson also said individual investors should be allowed to decide which securities they invest in, rather than assets BlackRock ( BLK ) believes incorporates ESG considerations, "including advancing the environmental goals of net zero carbon emissions."

BlackRock ( BLK ) did not respond immediately to a request for comment by MT Newswires.

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