BlackRock's Legal Battle: Antitrust Allegations Under Fire
BlackRock's attorney criticized antitrust claims by Republican-led states as unprecedented and unsound. The case involves BlackRock, Vanguard, and State Street, accused of market interference through industry climate groups. The defendants seek dismissal of the claims, which lack supportive evidence, according to their legal representation.
On Monday, BlackRock's legal representative dismissed antitrust allegations by several Republican-led states as "unprecedented, unsound and unsupported." The attorney highlighted the lack of evidence demonstrating how BlackRock's involvement with industry climate groups disrupts market competition.
The comments came from Gibson Dunn attorney Gregg Costa during proceedings where BlackRock, along with co-defendants Vanguard and State Street, are seeking to dismiss the high-profile antitrust lawsuit. The suit, brought by Texas and 12 other states, is being closely monitored by industry observers.
Costa's defense underscores the firms' stance that their participation in climate-related initiatives does not infringe upon competitive practices, challenging the claims that have stirred significant debate across the financial and political landscape.
(With inputs from agencies.)
ALSO READ
Tata Motors Eyes a Return to 50% Market Share in Electric Vehicle Segment
Upcoming IPOs Signal Busy Week in Primary Market
Rolling Cherries to Markets: New Rail Link Boosts J&K Economy
Nvidia's Earnings Report: Key Focus Amid Market Tensions
Trump's Trade Tantrum: A Closer Look at European Market Reactions
Google News