We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Calif. Pensions Must Divest Iran-Involved Cos.' Stock

Law360 (October 16, 2007, 12:00 AM EDT) -- Under a California law that Gov. Arnold Schwarzenegger signed on Sunday, the two largest pension funds in the U.S. must sell their billions in shares of major non-U.S. energy companies that operate in Iran.

The California Public Divest from Iran Act, as it is called, was introduced by Assembly member Joel Anderson (R-El Cajon) in order to halt what it said could constitute the funds' indirect support of a nation that U.S. policy considers a sponsor of terrorism. Proponents hope the law will pressure Iran into...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.