In State of Texas v. BlackRock, Inc., state attorneys general from 11 states sued BlackRock, Inc., State Street Corporation, and The Vanguard Group, Inc., in the US District Court for the Eastern District of Texas, alleging that the asset managers violated antitrust law through stock acquisitions of some of the largest publicly traded coal companies in the US. According to the complaint, the defendants leveraged their holdings to engage in climate activism and collusion that reduced coal production and raised energy prices.
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Key Allegations: Eleven States Sue BlackRock, State Street, and Vanguard Over Climate Activism, Reduction in Coal Output
