Barclays, BNP Paribas, Others Accused Of Bond Price-Fixing

Law360 (April 8, 2019, 4:16 PM EDT) -- The Oklahoma Police Pension and Retirement System has filed a proposed class action against several banking groups alleging they colluded to fix and manipulate the prices of unsecured bonds that were issued by Fannie Mae and Freddie Mac.

BNP Paribas Securities Corp., Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse and others repeatedly called each other in secret to exchange customer information and agreed on prices that they would quote to their investors for the unsecured bonds, or FFBs, according to the complaint filed Friday.

The pension and retirement system said the conspiracy added up to billions of dollars to...

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