Wyoming files antitrust action against asset managers over ESG policies
ate-friendly ESG agenda,” the release said. “Through their collective actions, the defendants have exceeded collective ownership thresholds in a significant number of American companies, including public coal companies.”
The action was filed in U.S. District Court for the Southern District of Texas, Victoria Division, and alleges that each of the defendant’s violations of the Sherman Act through their market allocations, price-fixing, and manipulation of ESG scores as a mechanism to control the companies’ decisions.
The complaint seeks both preliminary and permanent injunctive relief, as well as the divestiture of unlawfully acquired assets.
Governor Gordon stated, “Wyoming is closely monitoring these developments, as we fight to protect Wyoming interests and maintain a fair, competitive market for our state’s critical energy resources.”
This antitrust enforcement action serves as a reminder of the potential impacts that ESG investing can have on industries and markets, and highlights the importance of ensuring fair competition and accountability in the financial sector. Wyoming joins other states in taking a stand against what they perceive to be anticompetitive practices that disrupt the energy industry.
As the case progresses, it will be important to follow the legal proceedings and outcomes to understand how actions taken by major asset managers in the realm of ESG investing can impact various sectors of the economy. Stay informed about developments in the antitrust case to remain knowledgeable about the evolving landscape of financial regulations and the implications for investors and industries alike.
