Socially responsible asset manager Pax World Funds has dumped its $23.4 million worth of Starbucks stock because of a deal the Seattle-based coffee retailer has entered into with spirits maker Jim Beam.

Although Starbucks will not sell the product at its retail stores, Pax World urged Starbucks in a Feb. 17 to reconsider its decision to market a coffee liquor with the Clermont, Ky.-based bourbon specialist, A major advertising campaign for the new beverage is now underway.

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