Vanguard Settles Multistate Climate Activism Antitrust Suit for $29.5 Million

Asset management firm Vanguard is paying $29.5 million to multiple states to settle an antitrust lawsuit over its environmental, social, and governance investing goals. The suit, filed by Texas and a dozen other states, accused Vanguard, BlackRock, and State Street of conspiring to raise coal prices by pushing climate activism onto energy companies. The settlement marks a significant victory for the anti-ESG movement and could reshape how major asset managers approach climate-related investing.