Republican States Sue Investment Giants Over Green Policies and Market Manipulation
TL;DR Summary
Texas and 10 other Republican-led states have filed a federal antitrust lawsuit against BlackRock, State Street, and Vanguard, accusing them of conspiring to limit coal supplies to advance a "destructive" environmental agenda. The lawsuit claims these asset managers used their significant holdings in coal companies to reduce output and increase prices, allegedly violating state and federal laws. BlackRock has dismissed the allegations as baseless, while Vanguard and State Street have not commented. This legal action is part of a broader Republican effort against what they term "woke capitalism."
- Republican US states sue BlackRock for ‘destructive’ green agenda Financial Times
- BlackRock, Vanguard Accused of Violating Antitrust Law by Texas (BLK, STT) Bloomberg
- Blackrock, State Street, Vanguard sued by Republican states over climate accords Reuters
- Texas sues investment firms for manipulating electric markets The Dallas Morning News
- BlackRock, State Street, Vanguard sued by GOP states over ESG goals New York Post
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