BLK · News · 20260918N
Securities Fraud Investigation
BlackRock, Inc. · 2026-09-18 · Importance 31 · Surprise 42 · In source text
The U.S. Justice Department is considering joining an antitrust lawsuit filed by Texas and 12 other Republican state attorneys general against BlackRock and State Street. Filed in late 2024, the lawsuit alleges that the asset managers used their influence and membership in climate groups to pressure coal producers, contributing to higher electricity prices. A DOJ decision to participate would increase regulatory and litigation exposure related to BlackRock’s climate-focused investment activities, although no final decision has been made.
Key facts
- The US Justice Department is considering joining an antitrust lawsuit initiated by Texas and 12 other Republican state attorneys general against BlackRock Inc. and State Street Corp. source
- The lawsuit was filed in late 2024 and alleges that these asset managers used their influence and membership in climate groups to pressure coal producers, leading to higher electricity prices. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | contingent | — | The US Justice Department is considering joining an antitrust lawsuit initiated by Texas and 12 other Republican state attorneys general… |