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Black­Rock, State Street, Van­guard accused by US states of manip­u­lating ener­gy mar­kets

( November 27, 2024, 15:06 GMT | Official Statement) -- MLex Summary: A group of 11 US state attorneys general accused BlackRock, State Street Corporation, and Vanguard Group of conspiring to artificially constrict the market for coal through anticompetitive trade practices. According to the complaint, the firms have leveraged their holdings and voting of shares in coal companies to facilitate an output reduction scheme, which has artificially constrained the supply of coal, significantly diminished competition in the markets for coal, increased energy prices for American consumers, and produced cartel-level profits for the defendants.See attached file. Statement follows...

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