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Asset managers’ Big Tobacco moment looms as US antitrust case over ESG advances

By Chris May and Clayton Vickers ( August 8, 2025, 21:21 GMT | Comment) -- BlackRock, Vanguard and State Street’s failure to stop a controversial antitrust lawsuit brought by Republican state attorneys general has opened the door for litigation driven by a long-dormant economic theory challenging the core business model of companies managing trillions of dollars in assets.BlackRock, Vanguard and State Street’s failure to stop a controversial antitrust lawsuit brought by Republican state attorneys general has opened the door for litigation driven by a long-dormant economic theory challenging the core business model of companies managing trillions of dollars in assets....

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