On 22 May 2025, the U.S. Federal Trade Commission (FTC) and Department of Justice (DOJ) filed a Joint Statement of Interest in a lawsuit led by the State of Texas against three large investment companies. The lawsuit, led by Texas Attorney General Ken Paxton, has been joined by 10 other states and accuses the asset managers of using their positions in climate-focused investment initiatives to manipulate coal markets, driving up the cost of energy and resulting in higher energy prices for American consumers. This action, as the DOJ publicly notes, is the first formal statement by the Agencies in federal court on the antitrust implications of common shareholdings
Author
Kaitlyn Barry
BrowsingKaitlyn joined the firm after having served as a federal prosecutor in the Attorney General Honor’s Program at the Department of Justice’s Antitrust Division, where she worked on significant prosecutions and investigations of a variety of complex criminal and civil cases. Her experience on criminal matters includes prosecuting price fixing, bid rigging, market manipulation, and fraud. On the civil side, Kaitlyn’s experience includes working on the Google Ad Tech matter with the Civil Conduct Task Force.
During her tenure at the Department of Justice, Kaitlyn worked closely with various components of the federal and state criminal justice systems, including the FBI, ATF, Department of Labor, Department of Commerce, United States Probation, and the Texas Attorney General’s office. Recognized for her exemplary work, Kaitlyn received the Assistant Attorney General’s Award in 2022.
Prior to joining the Department of Justice, Kaitlyn served as a law clerk for Judge Ron Clark at the United States District Court for the Eastern District of Texas and Judge Kurt Engelhardt at the United States Court of Appeals for the Fifth Circuit. She earned her law degree from the University of Houston Law Center and her Bachelors degree from the University of Texas at Austin, where she was an NCAA Division I varsity student-athlete on the Longhorns cross country and track teams.
During her tenure at the Department of Justice, Kaitlyn worked closely with various components of the federal and state criminal justice systems, including the FBI, ATF, Department of Labor, Department of Commerce, United States Probation, and the Texas Attorney General’s office. Recognized for her exemplary work, Kaitlyn received the Assistant Attorney General’s Award in 2022.
Prior to joining the Department of Justice, Kaitlyn served as a law clerk for Judge Ron Clark at the United States District Court for the Eastern District of Texas and Judge Kurt Engelhardt at the United States Court of Appeals for the Fifth Circuit. She earned her law degree from the University of Houston Law Center and her Bachelors degree from the University of Texas at Austin, where she was an NCAA Division I varsity student-athlete on the Longhorns cross country and track teams.