(Adds details throughout.)
BlackRock (BLK), State Street (STT) and Vanguard Group have been accused by authorities in Texas and nearly a dozen other states of using their investments in coal mining and utility companies to manipulate electricity prices.
Led by Texas Attorney General Ken Paxton, the states accuse the three money managers of pressuring coal companies to "deliberately and artificially constrict" supply, resulting in higher prices and producing "extraordinary revenue gains" for their investments. The plaintiffs also accuse the companies of violating federal and state antitrust law barring shareholders from using their positions as investors to block potential competition.
Joining Paxton in the suit filed Wednesday in federal court in Tyler, Texas, were attorneys general from 10 other states, including Alabama, Arkansas, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, West Virginia and Wyoming.
BlackRock, State Street and Vanguard did not immediately reply to requests for comment from MT Newswires on Wednesday.
Price: 1031.89, Change: +5.41, Percent Change: +0.53
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。