AG Drummond Wants Retiree To Post Bond In Anti-ESG State Treasurer Lawsuit

Oklahoma Attorney General Gentner Drumond wants a retired public employee suing the state treasurer to put up a bond as the case moves forward.

That lawsuit halted a law requiring the state treasurer to stop investing with companies hostile to oil and gas companies.

The Oklahoma Discrimination Elimination Act of 2022 required the State Treasurer to stop investing state retirement funds with companies that boycott the energy industry.

Retired state employee Don Keenan claims in the lawsuit the state treasurer has one responsibility when it comes to handling state retirement accounts – make them money, regardless of political agenda.

An attorney for the state argued in court filings the public employee couldn't show his retirement investments would be worse off under the new law.

Earlier this month, Oklahoma County District Judge Shelia Stinson issued a temporary injunction blocking the law from taking effect, writing the law is overly vague.

Drummond then fired the attorney hired by the State Treasurer to defend the state. Drummond wrote on social media, “You and your hand-picked legal counsel succeeded only in getting our anti-ESG law blocked. I only hope my team can overcome the damage done by your mishandling of the matter.”

In new court filings, Drummond claims the retired public employee suing the state should have to post a bond as the case moves forward. Drummond says state law requires a bond to be set when a temporary injunction is issued. Drumond’s court filings say it would be up to the judge to determine how much it would be.

With the law on pause, Keenan is asking it to be thrown out altogether in a motion for summary judgment. The hearing date has not yet been set.