Placement on Texas fossil fuel boycotter list to cost UBS in settlement
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UBS will pay $850,000 to a Texas public school district in a settlement over the bank’s inability to underwrite bonds under a state law prohibiting government contracts with companies that “boycott” the fossil fuel industry, the state attorney general announced Friday.
The settlement involves a $18.6 million Normangee Independent School District competitive bond sale the investment bank won on Aug. 8 ahead of its Aug. 24 for issuers in the state.
