A U.S. federal court of appeals panel suspended a venture capital firm’s grant program for Black women business owners on Monday, ruling that a conservative group is likely to prevail in its lawsuit claiming that the program is the discriminatory.
FILE - Co-founders and CEOs of The Fearless Fund Arian Simone, center left, and Ayana Parsons, center right, speak to journalists outside federal court in Miami, on Jan. 31, 2024. A U.S. federal court of appeals panel suspended the 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 the discriminatory. NEW YORK — A U.S.
The court ordered the Fearless Fund to suspend its Strivers Grant Contest, which provides $20,000 to businesses that are majority owned by Black women, for the remainder the lawsuit. The ruling reversed aruling last year that the contest should be allowed to continue because Blum’s lawsuit was likely to fail.
“Our nation’s civil rights laws do not permit racial distinctions because some groups are overrepresented in various endeavors, while others are under-represented,” he added.
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