States sue BlackRock, Vanguard, and State Street for allegedly manipulating coal markets, raising electricity prices.

Texas and 10 other states have filed a lawsuit against investment firms BlackRock, Vanguard, and State Street, claiming they violated antitrust laws by pressuring coal companies to reduce production, which led to higher electricity prices. The lawsuit alleges the firms used their influence and ESG goals to manipulate the market, causing shortages and increased costs for consumers. The states seek to prevent these firms from using their stakes in coal companies to limit competition.

November 27, 2024
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