A Texas federal judge will allow a lawsuit to proceed wherein a coalition of states, including Texas, sued the world’s largest asset managers for allegedly engaging in antitrust violations and consumer protection practices.
Texas and 12 other Republican-led states filed suit against BlackRock, Vanguard, and State Street, accusing them of using their “collective power — by proxy voting and otherwise — to pressure the major coal producers to reduce production of coal, and in particular production of the thermal coal used to generate the electricity that powers American homes and businesses.”
