coal market cartel?

[QChawks]

BlackRock, Vanguard, State Street sued by Texas, red states​

• Texas Attorney General Ken Paxton is leading a lawsuit against BlackRock, Vanguard and State Street in federal court, alleging they are “conspiring to artificially constrict” the coal market, according to a Wednesday press release.
• Paxton and Texas were joined by 10 other Republican-led states in the lawsuit accusing the three largest U.S. asset managers of buying “substantial” holdings in public coal companies and then pushing those companies to reduce their output, according to the Nov. 27 lawsuit.
• Paxton and the coalition filed the complaint in the U.S. Eastern District Court of Texas and “demanded” a jury trial, according to the filing. Texas was joined in the suit by Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia and Wyoming.
• The lawsuit alleges the three asset managers allegedly violated the Sherman Act and Clayton Act — which govern antitrust law — as well as state antitrust laws from Texas, Montana and West Virginia.

 

[Dr. Phil Seuss]

I wonder if those companies turn around and buy green energy companies subsidized by the government.

 

[mnole03]

I read this when it was first filed. Honestly, I think they have a case that these companies do act like a trust to limit production.