BlackRock, State Street and Vanguard Accused by US Government of Colluding To Drive Up Energy Prices

Description

US government authorities are accusing the asset management giants BlackRock, State Street and Vanguard of colluding against the coal industry. In November of last year, 11 state attorneys general, led by Texas AG Ken Paxton, accused the three financial firms of engaging in an anticompetitive conspiracy to drive down coal production. The attorneys general allege the firms tapped their influence as shareholders in competing coal companies to reduce industrywide coal output, illegally sharing comp...