Eleven states, led by Texas, have filed a lawsuit against several prominent asset management firms, alleging violations of antitrust laws related to environmental, social, and governance (ESG) practices. The lawsuit accuses these investment companies of conspiring against the coal industry, raising concerns over their influence in the market. The states involved are taking action to address what they perceive as anti-competitive behavior in the context of ESG initiatives. This legal challenge highlights the ongoing tensions between state governments and asset managers over environmental policies and their implications for traditional energy sectors.