AUSTIN – The Trump Administration’s Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) have taken legal action supporting Attorney General Ken Paxton’s lawsuit against BlackRock, State Street, and Vanguard for conspiring to artificially manipulate the coal market through anticompetitive trade practices. “I am grateful that the Trump Administration has joined my effort to hold major asset managers accountable for weaponizing the financial industry to illegally control the energy markets and force a destructive ‘green […]
State Street
Attorney General Ken Paxton Sues BlackRock, State Street, and Vanguard for Illegally Conspiring to Manipulate Energy Markets, Driving Up Costs for Consumers
AUSTIN – Attorney General Ken Paxton sued BlackRock, State Street Corporation, and Vanguard Group, three of the largest institutional investors in the world, for conspiring to artificially constrict the market for coal through anticompetitive trade practices. Over several years, the three asset managers acquired substantial stockholdings in every significant publicly held coal producer in the United States, thereby gaining the power to control the policies of the coal companies. Using their combined influence over the […]