01:24 PM EST, 01/17/2025 (MT Newswires) -- Tennessee Attorney General Jonathan Skrmetti on Friday settled with BlackRock ( BLK ) , resolving claims that the investment firm misled consumers about how it uses environmental, social and governance factors in its investments.

"While investors are always free to buy cause-oriented products instead of focusing on maximum return, this settlement ensures that only investors who make a knowing choice will see their assets directed toward these non-financial goals," Skrmetti said in a statement.

The settlement ends a lawsuit filed by Tennessee under the Tennessee Consumer Protection Act.

BlackRock ( BLK ) didn't immediately reply to MT Newswires' request for comment.

Shares of the company were up 1.4% in recent trading.

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