Black-Owned Investment Firm Accuses NJ, BlackRock Of Bias

Law360 (June 23, 2020, 9:58 PM EDT) -- BlackRock Inc. and the New Jersey Department of the Treasury were hit with a federal lawsuit Tuesday by a minority-owned investment firm alleging the state cast it aside for a contract and instead gave the contract, along with confidential information, to the "overwhelmingly white" financial giant.

Denouncing the "systemic discrimination and racism" that's pervaded the financial services industry since the burning of Black Wall Street, in reference to the Tulsa, Oklahoma, massacre of 1921, Newark-based Blueprint Capital Advisors LLC claimed the brush-aside cost it tens of millions of dollars. The state's conduct violated state and federal civil rights laws, and BlackRock...

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