US judge mostly rejects BlackRock bid to dismiss states' lawsuit over climate push

State Street

01/08/2025 17:32

Aug 1 (Reuters) - A U.S. judge on Friday largely rejected a request by BlackRock to dismiss a lawsuit filed by Texas and 12 other Republican-led states that said the company and other large asset managers violated antitrust law through climate activism that reduced coal production and boosted energy prices.

U.S. District Judge Jeremy Kernodle in Tyler, Texas agreed to dismiss just three of the 21 counts in the states' lawsuit that also names institutional investors State Street and Vanguard. The lawsuit is among the highest-profile lawsuits targeting efforts to promote environmental, social and governance goals.

(Reporting by David Shepardson)

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