ROCKVILLE, Md. (August 13, 2026) -- Institutional Shareholder Services (ISS) today announced it has filed a lawsuit in the U.S. District Court for the Western District of Oklahoma challenging the newly enacted Oklahoma statute, H.B. 4429. In conjunction with the lawsuit, ISS issued the following statement:

“As it has in other states, ISS is challenging the constitutionality of a new Oklahoma statute aimed at undermining its business by burdening its ability to speak freely on matters of corporate governance. ISS refuses to back down from overreaching, unconstitutional attempts by state governments to violate free speech and distort the free flow of information to institutional investors. We offer fact-based proxy vote recommendations based on independent analysis to help our clients meet their investment objectives based on their market strategies. Oklahoma H.B. 4429 is yet another law designed to impose onerous obligations on proxy advisors when, and only when, our independent guidance does not align with corporate management.

Over the past year, three federal courts have granted preliminary injunctions against similar laws in Kansas, Indiana, and Texas, and we strongly believe a similar result is warranted in Oklahoma.”

Download a copy of the complaint here.

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