Texas is leading a new lawsuit with 10 other red states against BlackRock, Vanguard and State Street for allegedly breaking antitrust law by colluding to suppress coal - causing electricity prices to spike.
"Competitive markets — not the dictates of far-flung asset managers — should determine the price Americans pay for electricity," wrote Texas Attorney General Ken Paxton in the complaint.
The Republican-led states, including West Virginia and Montana, are asking the court to bar the three largest US investment firms from using their stock in coal companies to vote on shareholder resolutions and take other steps in a way that restrains output and limits market competition. -Bloomberg
The complaint, filed in Tyler, Texas, is one of the highest profile lawsuits targeting companies that promote environmental, social and governance goals, or ESH.
Finally, people are seeing sensible solutions to the monopoly problem with investors like these three clown companies! Since they are interlocked they are like one big combine quashing everybody else.
I also think that they should not be allowed to have seats on any boards of directors, ever again for pulling the ESG and DIE crap on companies.