BlackRock and two other financial firms have been taken to court by Texas and 10 other states accusing them of violating antitrust law by using their climate activism to reduce coal production and at the same time boosting energy prices.
It’s a lawsuit very similar to the anti-ESG laws created by Oklahoma, Texas and other states who accused the big banks of discriminating against the oil and gas industry. The other states included Kansas, Arkansas, Missouri but not Oklahoma. Alabama, Indiana, iowa, Montana, Nebraska, West Virginia and Wyoming were also a part of the lawsuit.
In addition to BlackRock, the lawsuit was filed against Vanguard and State Street.
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