Missouri AG who pitifully tried to sue China now targets financial giant Morningstar for giving 'woke' advice

Missouri Atty. Gen. Eric Schmitt announced last week he is investigating financial services giant Morningstar and its subsidiary Sustainalytics Inc. on the bizarre theory that its advocacy of “woke” investing defrauds consumers.

Schmitt, who won the Republican primary last Tuesday to seek the U.S. Senate seat of retiring Sen. Roy Blunt, has been one of the nation’s most MAGA-pandering attorneys general in the nation. He is attempting to carve out new wingnut turf with an unprecedented legal assault on Environmental, Social and Governance (ESG) investing.

Schmitt purports to have been triggered by charges that Sustainalytics showed anti-Israel bias in its products and services. An independent law firm found those not credible, Bloomberg reported, a detail that did not deter the Trump-loving attorney general.

“Following public reports into Morningstar’s alleged anti-Israel bias and concerns raised to my Office, we are launching an investigation into Morningstar Inc. and Sustainalytics over potential consumer fraud issues,” Schmitt said in an email reported by Bloomberg. “Missouri has been a leader in pushing back against woke ESG investing, and my Office will continue to look out for consumers.”

The company denied Schmitt’s allegations, the reporting stated. Morningstar CEO Kunal Kapoor issued this statement.

“Sustainability introduces new choices for investors; Morningstar provides the data and insights to help investors of all types weigh those choices in their decision making. We conduct independent research with a level of transparency that makes us proud.”

Schmitt was a formerly moderate Republican state senator who shamelessly overhauled his image to pander to former President Donald Trump and his base. Schmitt authored the amicus brief in the failed Texas lawsuit attempting to invalidate Pennsylvania’s 2020 election result. That was just one of numerous politically motivated lawsuits he has filed to bolster his Senate run at taxpayers’ expense.

Schmitt was vice chairman of the Republican Attorneys General Association (RAGA) on January 5, 2021, when it sent out robocalls urging supporters to come to Washington D.C. for Trump’s pre-insurrection rally. He has denied knowledge of the robocalls.

None of Schmitt’s antics were more pathetic, however, than when he had Missouri sue the country of China for allegedly causing the pandemic to spread to his state. He was widely ridiculed for the stunt, which featured such anomalies as having state taxpayers pay $12,000 in translation, address verification and processing fees.

Apparently, Chinese President Xi Jinping was never served. Last month, U.S. District Judge Stephen Limbaugh dismissed the “novel complaint” for lack of jurisdiction.

For those interested – unlike Schmitt – who are interested in learning about the importance of ESG investing, this analysis by Forbes is a good primer.