Texas Attorney General Ken Paxton (R) sued Glass Lewis in Texas District Court for Collin County on July 29, 2026, alleging deceptive trade practices. Glass Lewis is a San Francisco-based proxy advisory firm that advises institutional investors how to vote at corporate shareholder meetings.
According to the complaint, the firm advises more than 1,300 investment managers whose clients collectively manage $40 trillion in assets across 100 markets. Glass Lewis representatives attend more than 30,000 shareholder meetings each year.
Paxton alleges Glass Lewis advertises its proxy voting advice as objective while actually weighing environmental, social, and governance (ESG) factors. Paxton said that Glass Lewis "provides advice influenced by its own Environmental, Social, and Governance ('ESG') ideological considerations, apart from its clients' best financial interests."
