Justice Department and Federal Trade Commission File Statement of Interest on Anticompetitive Uses of Common Shareholdings to Discourage Coal Production

On January 29, the US Department of Justice (Antitrust Division) and Federal Trade Commission issued a statement of interest in Texas et al. v. BlackRock, Inc., alleging that institutional asset managers used shareholdings to orchestrate output reductions in coal companies. The agencies stated that protecting competition for coal production furthers national energy policies by enabling the free market to unleash America's energy security and economic dynamism.