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Stock impact report

Big banks win dismissal in U.S. of bond rigging lawsuit [Reuters]

Barclays PLC (BCS) 
Company Research Source: Reuters
Big banks win dismissal in U.S. of bond rigging lawsuit | Reuters 3 Min Read NEW YORK (Reuters) - A U.S. judge has dismissed an antitrust lawsuit by investors that accused nine big banks of rigging the roughly $9 trillion government agency bond market from 2005 to 2015. In a decision made public on Wednesday, U.S. District Judge Edgardo Ramos in Manhattan said the investors failed to show they were injured by conducting any specific transactions in U.S. dollar-denominated supranational, sub-sovereign and agency bonds that were tainted by the alleged collusion. Investors led by the Iron Workers Pension Plan of Western Pennsylvania and the Sheet Metal Workers Pension Plan of Northern California said the banks used chatrooms and other means to share pricing data and coordinate trading to boost profit, infecting “each and every” transaction. The defendants included Barclays Plc ( BARC.L ), BNP Paribas SA ( BNPP.PA ), Citigroup Inc ( C.N ), Credit Agricole SA ( CAGR.PA ), Credit Su Show less Read more
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