BlackRock seeks dismissal of Texas antitrust case over alleged suppression coal production

BlackRock is seeking to dismiss a lawsuit from Texas and other Republican-led states, which alleges that major asset managers conspired to suppress coal production by pushing net-zero carbon policies. Lawyers for BlackRock argue that the antitrust claims are unprecedented and lack evidence of direct collusion or intent to limit coal output. If the lawsuit proceeds, it could significantly impact how passive funds engage with companies and participate in proxy voting, potentially leading to wider litigation across various industries.