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2026-09-19 03:16:09
The U.S. Department of Justice is considering joining a lawsuit filed by attorneys general of Republican-led states against BlackRock and State Street. According to reports, the Department of Justice is currently evaluating whether to participate in a lawsuit filed by attorneys general from Texas and 12 other Republican-led states against asset management giants BlackRock and State Street. Sources familiar with the matter revealed that Justice Department officials have been weighing their options in recent weeks, but no final decision has been made. The lawsuit alleges that BlackRock and State Street, leveraging their market dominance, pressured coal producers to reduce production under the guise of achieving climate goals, ultimately leading to a surge in electricity prices. Following this news, BlackRock's stock price briefly fell but quickly recovered, rising more than 1% on Friday. State Street's stock price also rebounded slightly after hitting a low point during the session.
