Texas Attorney General Ken Paxton. Photo: Diego M. Radzinschi/ALM11 Red State AGs Demand Damages in Antitrust Lawsuit Shaming ESG Climate Investors
"BlackRock, Vanguard and State Street formed a cartel to rig the coal market, artificially reduce the energy supply and raise prices," Texas Attorney General Ken Paxton alleged. "Their conspiracy has harmed American energy production and hurt consumers."
December 02, 2024 at 07:25 PM
3 minute read
What You Need to Know
- Red state attorneys general accuse investment management firms of ESG antitrust violations harming competition in the coal industry.
- Cooper & Kirk and Tony Buzbee of the Buzbee Law Firm are assisting GOP state attorneys general as outside counsel.
- Plaintiff states seek damages, civil penalties and injunctive relief from BlackRock, State Street and Vanguard.
Nearly a dozen Republican state attorneys general have filed an antitrust lawsuit alleging that three of the world’s largest investment management companies have colluded in an environmental, social and governance scheme to reduce coal output in violation of the Clayton Act.
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