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NEW YORK (AP) — A U.S. federal court of appeals panel suspended a venture capital firm’s grant program for Black women business owners, ruling that a conservative group is likely to prevail in its lawsuit claiming that the program is discriminatory.
The ruling against the Atlanta-based Fearless Fund is another victory for conservative groups waging a sprawling legal battle against corporate diversity programs that have targeted dozens of companies and government institutions.
The case against the Fearless Fund was brought last year by the American American Alliance for Equal Rights, a group led by Edward Blum, the conservative activist behind the Supreme Court case that ended affirmative action in college admissions.
Blum applauded the ruling, saying “programs that exclude certain individuals because of their race such as the ones the Fearless Fund has designed and implemented are unjust and polarizing.”
Fearless Fund CEO and Founder Arian Simone said the ruling was “devastating” for the organizations and the women it has invested in.
“The message these judges sent today is that diversity in Corporate America, education, or anywhere else should not exist,” she said in statement. “These judges bought what a small group of white men were selling.”
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