News Link • Lawsuits
Eleven States Sue BlackRock, State Street, Vanguard, Accusing Them of Inflating Energy Prices
• Just the News and Texas AG Ken PaxtonThe lawsuit alleges that the firms conspired to artificially constrict the coal market. They acquired substantial stockholdings in all significant, publicly held coal producers in the US, allowing them to have the power to control coal company policies. These asset managers are accused of pushing for reduced coal output by more than half by 2030.
The 10 other states that joined the lawsuit are Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia, and Wyoming.
Attorney General Ken Paxton is leading 10 other GOP state attorneys general in a lawsuit against BlackRock, State Street Corporation and Vanguard Group, three of the largest asset managers worldwide, for allegedly violating antitrust laws.
The firms allegedly conspired to use anticompetitive trade practices to artificially constrict the coal market, according to Paxton's office. They acquired substantial stockholdings in all significant, publicly held coal producers in the U.S., allowing them to have the power to control coal company policies. These asset managers pushed for reduced coal output by more than half by 2030.
The 10 other states that joined the lawsuit are Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia, and Wyoming.
"Texas will not tolerate the illegal weaponization of the financial industry in service of a destructive, politicized 'environmental' agenda. BlackRock, Vanguard, and State Street formed a cartel to rig the coal market, artificially reduce the energy supply, and raise prices," Paxton said in a statement on Wednesday. "Their conspiracy has harmed American energy production and hurt consumers. This is a stunning violation of State and federal law."
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1 Comments in Response to Eleven States Sue BlackRock, State Street, Vanguard, Accusing Them of Inflating Energy Prices
This is the same thing that people can do when they are debanked. But they have to sue the bank people, not their position in a bank, for harming them. Anybody can sue anybody. When suing another person, make sure that you have witnesses with you to corroborate any false courtroom operations against you. And you might want to start the process by invoicing the perpetrator, your bank president. Remember, you sue only the man or woman, never the bank president position.