{"id":2438200,"date":"2025-05-22T22:34:02","date_gmt":"2025-05-23T02:34:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/doj-backs-lawsuit-accusing-blackrock-others-of-colluding-to-boost-esg\/"},"modified":"2025-05-22T22:38:47","modified_gmt":"2025-05-23T02:38:47","slug":"doj-backs-lawsuit-accusing-blackrock-others-of-colluding-to-boost-esg","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/doj-backs-lawsuit-accusing-blackrock-others-of-colluding-to-boost-esg\/","title":{"rendered":"DOJ backs lawsuit accusing BlackRock, others of colluding to boost ESG"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdoj-backs-lawsuit-accusing-blackrock-others-of-colluding-to-boost-esg%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2438200&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Teh Department of Justice (DOJ) has filed an amicus brief in support of Texas Attorney General Ken Paxton&#8217;s antitrust lawsuit against major investment firms BlackRock, State Street, and Vanguard.Paxton alleges that these companies conspired to suppress the coal market through illegal trade practices, aiming to meet environmental goals by reducing coal production by more than half by 2030. The lawsuit accuses them of deceiving investors and artificially raising prices by constricting demand for coal, <a href=\"https:\/\/amzn.to\/3YuVZYV\" >violating texas <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/parler-ceo-john-matze-tells-employees-that-he-was-terminated-by-board-the-future-of-parler-is-no-longer-in-my-hands\/\" title=\"Parler CEO John Matze Tells Employees That He Was Terminated By Board: \u2018The Future Of Parler Is No Longer In My Hands\u2019\">antitrust laws<\/a><\/a>.<\/p>\n<p>Paxton states that the actions of these firms represent a horrific breach of both state and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/constitutional-crisis-or-political-war\/\" title=\"Constitutional Crisis or Political War\">federal laws<\/a>, harming energy production and consumers. The DOJ and the federal Trade Commission emphasize the importance of regulating antitrust laws in America&#8217;s energy markets to protect consumers from behaviors that diminish energy supply and inflate prices. This lawsuit is notably critically important as Paxton is campaigning for a Senate seat.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">DOJ backs antitrust lawsuit accusing BlackRock and others of colluding to boost ESG<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2126680\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/justice-department\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Department of Justice<\/a> filed an amicus brief supporting <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/texas\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Texas<\/a> Attorney General Ken Paxton&rsquo;s lawsuit against <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/blackrock\/\" target=\"_blank\" rel=\"noopener\" title=\"\">BlackRock<\/a>, State Street, and Vanguard for allegations of antitrust violations.&nbsp;<\/p>\n<p>Paxton filed the lawsuit against the three investment companies &ldquo;for conspiring to artificially constrict the market for coal through anticompetitive trade practices.&rdquo; The three companies face allegations of using their massive holdings in major coal producers to pressure them to satisfy green energy goals with a push to more than halve coal production by 2030. <\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/justice\/3419756\/ed-martin-spitting-assault-dc-woman-charged\/\">Woman charged with assault for spitting on former DC prosecutor Ed Martin<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/crime\/3419770\/obama-clinton-adviser-tom-kerr-antiques-theft\/\">Democratic adviser to Clinton, Obama accused of stealing antiques valued over $2,000<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/education\/3419522\/judge-blocks-trump-education-department-layoffs\/\">Judge blocks Trump bid to lay off 1,300 Education Department workers<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>In the lawsuit, the Republican attorney general accuses the companies of deceiving investors who invested in non-environmental, social, and governance funds, a framework used to assess a company&rsquo;s environmental sustainability impact, and raising prices by artificially constricting demand, alleging that the companies broke Texas antitrust laws.<\/p>\n<p>&ldquo;Texas will not tolerate the illegal weaponization of the financial industry in service of a destructive, politicized &lsquo;environmental&rsquo; agenda. BlackRock, Vanguard, and State Street formed a cartel to rig the coal market, artificially reduce the energy supply, and raise prices,&rdquo; Paxton said in announcing the suit. &ldquo;Their conspiracy has harmed American energy production and hurt consumers. This is a stunning violation of State and federal law.&rdquo;<\/p>\n<p>The Justice Department and Federal Trade Commission said they share an interest in &ldquo;ensuring the correct application of the antitrust laws, including in America&rsquo;s energy markets.&rdquo;<\/p>\n<p>&ldquo;Doing so protects Americans from anticompetitive behavior that reduces the production of domestic energy, raises energy prices for consumers and businesses, and undermines America&rsquo;s energy dominance,&rdquo; the brief stated. &ldquo;It also preserves competition for capital investments, providing Americans with broader and more efficient investment options.&rdquo;&nbsp;<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3418952\/behind-the-scenes-trump-made-for-tv-foreign-policy\/\" target=\"_blank\" rel=\"noreferrer noopener\">BEHIND THE SCENES OF TRUMP&rsquo;S &lsquo;MADE-FOR-TV&rsquo; FOREIGN POLICY<\/a><\/strong><\/p>\n<p>The brief also cites Trump&rsquo;s energy&nbsp;<a href=\"https:\/\/www.whitehouse.gov\/presidential-actions\/2025\/01\/declaring-a-national-energy-emergency\/\" target=\"_blank\" rel=\"noreferrer noopener\">national emergency<\/a>, which describes the nation&rsquo;s &ldquo;energy and critical minerals (&lsquo;energy&rsquo;) identification, leasing, development, production, transportation, refining, and generation capacity&rdquo; as &ldquo;far too inadequate&rdquo; to meet the country&rsquo;s needs. The emergency text adds that &ldquo;our Nation&rsquo;s inadequate energy supply and infrastructure causes and makes worse the high energy prices that devastate Americans, particularly those living on low- and fixed-incomes,&rdquo; central to Paxton&rsquo;s argument and the amicus brief&rsquo;s statement of interest.<\/p>\n<p>The lawsuit comes as Paxton is <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/congressional\/3384518\/ken-paxton-texas-ethics-laws-senate-campaign-launch\/\" target=\"_blank\" rel=\"noopener\" title=\"\">running<\/a> for Sen. John Cornyn&rsquo;s (R-TX) seat in the upper chamber.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_2126680\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"2126680\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DOJ supports lawsuit against BlackRock for antitrust violations<\/p>\n","protected":false},"author":1,"featured_media":2438201,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/AP25023650812899.webp","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[7002,6926,7076,7003,4585],"class_list":["post-2438200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-blackrock","tag-collusion","tag-doj","tag-esg","tag-lawsuit"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2025\/05\/AP25023650812899.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2438200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2438200"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2438200\/revisions"}],"predecessor-version":[{"id":2438204,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2438200\/revisions\/2438204"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2438201"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2438200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2438200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2438200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}