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BlackRock, others must face US claims over ESG cartel, state AGs argue

( May 1, 2025, 22:31 GMT | Official Statement) -- MLex Summary: BlackRock, State Street, and the Vanguard Group have used their substantial stakes in every publicly traded coal company to reduce output below competitive levels and line their pockets while doing so, according to state attorneys general. “Defendants claim that they fall within Section 7’s ‘safe harbor’ provision, which protects stock acquisitions made ‘solely’ for investment. But their intent to influence the coal companies and active use of the stock, among other things, render that defense inapplicable,” they argued in opposing dismissal.See attached file. ...

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