BlackRock, Vanguard and State Street Sued by 11 States

What You Need To Know

• Texas and other states say the asset managers broke antitrust laws by boosting electricity prices through their investments.
• Attorney General Bill Paxton accuses the firms of working together to cause industrywide reductions in coal production, which has resulted in higher energy prices.
• Republican lawmakers have been critical of Wall Street’s efforts to include environmental and social factors in their financial calculations.