Big banks beat investor antitrust lawsuit over odd-lot bonds


By Hailey Konnath (October 25, 2021, 11:41 p.m. EDT) – A New York federal judge awarded Bank of America, Wells Fargo, JPMorgan Chase and several other major banks a big victory on Monday, dismissing a proposed class action suit for good accusing them of colluding to rig prices for smaller corporate bond deals.

A judge launched a class action lawsuit on Monday accusing BofA and other major banks of colluding to rig rates on odd lot bonds. (AP Photo / Matt Rourke) U.S. District Judge Lewis J. Liman noted in his order that the complaint from individual and institutional investors is “ambiguous and unclear” about the precise nature of the alleged boycott of the banks of the …

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