Texas\u2019 high-profile fight with proxy advisory firms is often described as another skirmish in the ESG wars. That framing misses the point and obscures the real governance risk now facing Texas-incorporated and Texas-based public companies.<\/p>\n
The US District Court for the Western District of Texas is considering a challenge to a recent Texas statute regulating proxy advisory firms. Senate Bill 2337<\/a>, passed in 2025 and codified in the Texas Business Organizations Code (Chapter 6A)<\/a>, requires firms that advise institutional investors how to vote their shares to make state-mandated disclosures.<\/p>\n In particular, the disclosures should come when recommendations diverge …<\/p>\n","protected":false},"excerpt":{"rendered":"Texas\u2019 high-profile fight with proxy advisory firms is often described as another skirmish in the ESG wars. That…\n","protected":false},"author":2,"featured_media":119777,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[12918,22091,61445,61446,61444,27,29,28],"class_list":{"0":"post-147331","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-texas","8":"tag-constitutional-law","9":"tag-esg","10":"tag-financial-markets","11":"tag-proxy-voting","12":"tag-state-securities-legislation","13":"tag-texas","14":"tag-texas-headlines","15":"tag-texas-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/147331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=147331"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/147331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/119777"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=147331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=147331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=147331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}