FTC and DOJ File Statement of Interest in Energy Collusion Case Against BlackRock, State Street, and Vanguard

On May 22, 2025, the Federal Trade Commission issued an update regarding FTC and DOJ File Statement of Interest in Energy Collusion Case Against BlackRock, State Street, and Vanguard. The FTC and DOJ filed a statement of interest in a multistate antitrust case against asset managers BlackRock, State Street, and Vanguard, alleging they engaged in an anticompetitive conspiracy to drive down coal production as part of an industry-wide "Net Zero" initiative. This move seeks to protect markets from anticompetitive behavior that raises Americans' energy bills while avoiding unnecessary interference with ordinary investment activity.