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update deskBoycott, Divestment & Sanctions (BDS)

Florida’s anti-BDS law finds first potential violator

Authorities have launched an investigation into Morningstar.

A truck in downtown Chicago bears DontTrustMorningStar.com signage, a Consumers’ Research campaign. Credit: Courtesy.
A truck in downtown Chicago bears DontTrustMorningStar.com signage, a Consumers’ Research campaign. Credit: Courtesy.

JNS got a scoop last month that Florida was investigating investment giant Morningstar. On Monday, Florida Gov. Ron DeSantis, currently the second-ranked Republican presidential candidate, said in a video excerpting a speech he gave to the 2023 Christians United for Israel summit taking place this week in Washington, D.C.: “We’re not letting them target Israel and get away with it.”

DeSantis announced that Florida would officially investigate Morningstar, an investment firm, for violating the new law opposing the boycott, divestment and sanctions movement.

The law Morningstar may have broken went into effect in May. It forbids companies doing business with the state of Florida from “taking adverse action, including changes to published commercial financial ratings, risk ratings and controversy ratings based on non-pecuniary factors, to inflict economic harm on Israel or persons or entities doing business in Israel or in Israeli controlled territories.”

Morningstar is suspected of being in violation of the law because it has been accused of using investment ratings that discriminate against Israel. The parent company has experienced a crashing fall from grace, now under investigation in 20 states.

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