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Texas sues investment firms for anti-trust violations, price hikes

  • A coalition of 11 Republican-led states has filed a lawsuit against BlackRock, Vanguard Group, and State Street Corporation for antitrust violations, as stated by Texas Attorney General Ken Paxton.
  • The lawsuit alleges that these asset managers' promotion of environmental standards led to reduced coal production and increased energy prices over several years.
  • The companies are accused of forming a cartel to manipulate the coal market, effectively reducing energy supply and raising prices.
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  • 76% of the sources lean Right
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