Thinker101
Diamond Member
- Mar 25, 2017
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Quite the racket, using your investment so you can pay more.
Texas Attorney General Ken Paxton is suing three investing companies, accusing them of conspiring to manipulate energy markets.
Paxton and ten other attorneys general filed a lawsuit against BlackRock, State Street Corporation and Vanguard.
They're accusing the companies of acquiring substantial stockholdings in U.S. coal producers and then weaponizing their shares to pressure the coal companies with "green energy" goals. Paxton’s office said the investment companies pushed to reduce coal output by more than half by 2030.
The lawsuit alleges that deliberately and artificially constricting supply increased prices and enabled the investment companies to produce “extraordinary revenue gains.” The lawsuit claims the move violated federal laws that prevent a major shareholder, or a group of shareholders, from using their shares to lessen competition.
MSN
Texas Attorney General Ken Paxton is suing three investing companies, accusing them of conspiring to manipulate energy markets.
Paxton and ten other attorneys general filed a lawsuit against BlackRock, State Street Corporation and Vanguard.
They're accusing the companies of acquiring substantial stockholdings in U.S. coal producers and then weaponizing their shares to pressure the coal companies with "green energy" goals. Paxton’s office said the investment companies pushed to reduce coal output by more than half by 2030.
The lawsuit alleges that deliberately and artificially constricting supply increased prices and enabled the investment companies to produce “extraordinary revenue gains.” The lawsuit claims the move violated federal laws that prevent a major shareholder, or a group of shareholders, from using their shares to lessen competition.
MSN
