Texas Says Vanguard Settles Collusion Suit for $29.5 Million (2)

Texas said Vanguard Group Inc. agreed to pay a total of $29.5 million to settle a lawsuit brought by a dozen states that accused the asset manager of colluding to manipulate the energy market and reduce coal output.

As part of the deal, Vanguard also will “avoid imposing ESG goals over its customers’ profitability,” according to a statement by Texas Attorney General Ken Paxton’s Office. A court filing Thursday showed Vanguard was dismissed as a defendant in the lawsuit.

Vanguard said in a statement that the decision to settle “allows us to put this distraction behind us and focus ...