09:04 AM EST, 11/27/2024 (MT Newswires) -- BlackRock ( BLK ) , State Street (STT) and Vanguard Group were sued by Texas and other states for allegedly breaking antitrust law by lifting electricity prices through their investments, Bloomberg reported Wednesday.

The three biggest US money managers pressured coal producers to cut output, causing Texans and residents of other states to pay higher power bills, according to the lawsuit filed Wednesday in federal court in Texas, Bloomberg reported.

BlackRock ( BLK ), State Street and Vanguard did not reply to requests for comment from MT Newswires.

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