Texas Attorney General Ken Paxton sued BlackRock (BLK), State Street (STT) and Vanguard Group, which it calls “three of the largest institutional investors in the world,” for “conspiring to artificially constrict the market for coal through anticompetitive trade practices,” the AG announced. A coalition of 10 other States joined Attorney General Paxton on the lawsuit, Texas noted. “Texas will not tolerate the illegal weaponization of the financial industry in service of a destructive, politicized ‘environmental’ agenda. BlackRock, Vanguard, and State Street formed a cartel to rig the coal market, artificially reduce the energy supply, and raise prices. Their conspiracy has harmed American energy production and hurt consumers. This is a stunning violation of State and federal law,” said Attorney General Paxton.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BLK:
- BlackRock urges U.K.’s Starmer to make global competition easier, FT says
- Bitcoin ETF Options to Start Trading
- BlackRock price target raised to $1,133 from $1,105 at Deutsche Bank
- Millennium in discussions to sell equity interest to BlackRock, Bloomberg says
- Wall Street institutions loan over $11B to ‘neocloud’ companies, WSJ says
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
