The mayors are wrong on principle - the “investments” concerned are the investments made on behalf of government employees into their pension plans, to which the government has a fifuciary responsibility as a moral responsility to keep their own politics out the investment decisions of what is really their employees funds in the form of deferred compensation.
They see their only fiduciary responsibility and moral responsility as growing government and getting re-elected.
El correcto! The gun manufacturers will not be harmed by this action in the least, but the hapless public employees will possibly see diminished returns. It’ll be pretty hard to prove in court, though I am sure someone will be able to do so.