A lawsuit brought by Texas Attorney General Ken Paxton against asset managers BlackRock, State Street and Vanguard alleging they colluded to manipulate the coal market could hurt U.S. coal firms if the firms are forced to divest, according to one of the firms.Paxton's suit, which was filed in Nov. 2024 and joined by 10 other states, claims that the three asset managers formed a cartel to rig the coal market, constrain energy supplies and raise prices. The suit alleges the asset managers violated federal and state antitrust laws, along with consumer protection laws in Texas, by using their stoc...

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