11-state lawsuit accuses top investment firms of manipulating energy market against coal power

Attorney General Hilgers Joins Antitrust Lawsuit Against Institutional Investors for ESG Commitments

Attorney General Mike Hilgers joined a coalition of 11 states to sue 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 gain…

ESG Firms Invested in Coal Industry They Tried to Reduce, While Reaping Big Profits, Lawsuit Alleges

by Kevin Killough   The State of Texas has been a leader in the pushback against environmental, social, and governance (ESG) policies, passing some of the first anti-ESG laws in the country. Last week, Texas Attorney General Ken Paxton moved to protect the coal industry from what Paxton says is an effort on the part of large investment firms to not only shrink coal companies — but also unfairly profit from them. Paxton teamed up with 10 other at…

'Illegal weaponization': States sue coal-industry investors for threatening energy supplies

Multiple states have joined in a lawsuit against several major investors in the coal industry far taking their climate change ideology too far – and actually threatening the nation’s energy supply. Fox News reports Wyoming, Texas, West Virginia and eight other states have gone to court against BlackRock, State Street and Vanguard, charging the industrial investing giants bought into and then used their leverage with various coal companies to “ar…

11 U.S States File Lawsuit Against BlackRock & Vanguard for Pushing Globalist Green Agenda

Texas is leading a group of eleven U.S. states in filing a landmark lawsuit against investment giants pushing the globalist green agenda at the expense of the American people. The post 11 U.S States File Lawsuit Against BlackRock & Vanguard for Pushing Globalist Green Agenda appeared first on Slay News.

11-state lawsuit accuses top investment firms of manipulating energy market against coal power

Major energy producers Texas and West Virginia are leading nine other states in an antitrust lawsuit against BlackRock, State Street and Vanguard, alleging they leveraged their voting shares to facilitate an "output reduction scheme, which has artificially constrained the supply of coal…"The investment titans allegedly "significantly diminished competition in the markets for coal, increased energy prices for American consumers, and produced cart…

ESG firms invested in coal industry they tried to reduce, while reaping big profits, lawsuit alleges

BlackRock, State Street and Vanguard had substantial investments in all publicly traded coal companies, and used that leverage to reduce production. Smaller producers couldn't increase output, in part due to banks' ESG policies. The three investment firms reaped huge profits.