Fearless Fund drops grant program for Black women business owners in lawsuit settlement

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Ed Blum,Fearless Fund,Black Women

NEW YORK (AP) — A venture capital firm has closed down a grant contest for Black women business owners as part of a settlement agreement with a conservative ...

NEW YORK — A venture capital firm has closed down a grant contest for Black women business owners as part of a settlement agreement with a conservative group that had filed a lawsuit alleging the program was discriminatory, both sides announced Wednesday.

The lawsuit against the Fearless Fund, the Atlanta-based firm that has helped grow popular companies like beauty retailer Thirteen Lune and restaurant chain Slutty Vegan, has been closely watched as a bellwether in the growingin college admissions, conservatives have targeted dozens of companies and government institutions and challenged a wide array of programs and policies bolstering diversity, equity and inclusion, known as DEI.

So far, none of the anti-DEI lawsuits have resulted in a precedent-setting ruling on the level of the Supreme Court decision on affirmative action. Ben Crump, a civil rights attorney who represented the Fearless Fund, said that the settlement ensured that lawsuit ended without setting any such precedent.

David Glasgow, executive director of the Meltzer Center for Diversity, Inclusion, and Belonging at New York University’s School of Law, said the decision to settle the lawsuit was not surprising because “the gamble you are making in cases like this is that if you continue fighting you will get more adverse rulings that have the potential to cause wider damage.”

Two judges, appointed by former President Donald Trump to the U.S. Court of Appeals for the 11th Circuit in Miami, sided with Blum's argument that the grant program violates, which prohibits discrimination on the basis of race when enforcing contracts. The Reconstruction-era law was originally intended to protect formally enslaved people from economic exclusion, but anti-affirmative action activists have been leveraging it to challenge programs intended to benefit minority-owned businesses.

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