A Texas judge has allowed an antitrust lawsuit to proceed against BlackRock, Vanguard, and State Street, alleging they used their combined influence to pressure U.S. coal companies to limit production. The suit, backed by multiple states and supported by the DOJ and FTC, alleges that the three asset managers conspired to constrict coal production through their public holdings and engagements. The court refused to dismiss the case, explaining that the states’ arguments are plausible. This case highlights the pressures alliances are currently facing.
Read more on this lawsuit here.