DES MOINES—Iowa Attorney General Brenna Bird today sued three of the world’s largest investment companies—BlackRock, State Street, and Vanguard—for intentionally and illegally colluding to raise electricity prices for American families.

For years, BlackRock, State Street, and Vanguard have dominated the stock market, with major stakes in all the big energy companies in the country. Now, they are leveraging their market stranglehold to force the coal industry to submit to woke, green mandates—having to cut carbon output in nearly half by 2030. To keep up with these mandates, coal companies have no choice but to produce less energy, meaning families pay more for electricity and Woke Wallstreet reaps the profits.

This ploy is part of a much greater green scheme, which hurts farmers. Woke Wallstreet is directing money away from the agricultural industry in favor of unrealistic and illegal net-zero mandates, driving up costs for farmers and threatening food security.

“While Woke Wallstreet lines its own pockets, families and farmers are forced to pay the price,” said Attorney General Bird. “What ‘net-zero’ really means is no beef cattle or dairy cows, no fertilizer to grow crops, and no family farms. Families are saddled with high bills for electricity and groceries. I will not stop fighting until we take down every cog of the woke machine and protect hardworking families and farmers.”

The States make the case that the three investment companies violated antitrust laws by colluding to intentionally stifle competition and reduce energy production with unreasonable, net-zero emissions mandates.

Iowa joined the Texas-led lawsuit. They were joined by Alabama, Arkansas, Indiana, Kansas, Missouri, Montana, Nebraska, West Virginia, and Wyoming.

Read the full lawsuit here.

###

For More Information:

Alyssa Brouillet | Communications Director

(515) 823-9112

alyssa.brouillet@ag.iowa.gov