Exclusive-US expected to support Republican states' argument in BlackRock climate case
(Reuters) -U.S. federal antitrust enforcers were expected to express support on Thursday for arguments wielded by Republican states that accuse asset managers BlackRock, Vanguard and State Street of conspiring through climate activism to decrease coal output, two sources familiar with the matter told Reuters. The U.S. Department of Justice and Federal Trade Commission were expected to file a statement of interest in the case where Texas and 12 other states claim the companies used their substantial holdings in U.S. coal companies to discourage competition. The development marks a political setback for the top asset managers.
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