Skip to main content
Major energy producers Texas and West Virginia are leading a lawsuit against BlackRock, State Street and Vanguard. AP Images

11-state lawsuit accuses top investment firms of manipulating energy market against coal power

Major energy producers Texas and West Virginia are leading a lawsuit against BlackRock, State Street, and Vanguard, alleging manipulation of the energy market against coal power. The lawsuit claims that these firms have facilitated an “output reduction scheme, which has artificially constrained the supply of coal.”

The lawsuit alleges smaller coal producers weren’t able to raise production and sufficiently meet demand in order to keep a share of the market.

BlackRock and State Street dispute the claims made by the attorneys general regarding competition restraint.

Media Miss by the Left

See who else is reporting on this story and which side of the political spectrum they lean. To read other sources, click on the plus signs below. Learn more about this data
Left 0% Center 0% Right 100%

Bias Distribution

Click to see headlines
13 other sources covering this story
Total News Sources 13
Leaning Left 0
Center 0
Leaning Right 6
Last Updated 16 hours ago
Bias Distribution Powered by Ground News