December 2, 2024 – FundFire recently interviewed Jeffery Cross on the antitrust lawsuit filed by eleven Republican-led states against BlackRock, State Street, and Vanguard. The suit alleges the firms violated monopoly laws by using their stock holdings in coal producers to influence internal policies and reduce coal output.

Cross highlighted the unusual nature of the claim, stating, “The idea that an investor acquires stock and then votes on corporate initiatives generated by whomever is a violation of Section 7 is quite unusual. It’s a very novel interpretation of the language and, to my knowledge, has never been held applicable to this kind of situation.” To read the full article, click here (subscription may be required).