Aluminum Case Can't Save Bond Price-Fix Suit Versus Banks

Law360 (October 7, 2019, 1:48 PM EDT) -- Barclays, Citigroup and other big banks escaped investors' bond price-fixing claims, with a federal judge saying the Second Circuit’s recent finding that antitrust claims could be brought by players in more than one market applied here too, but the investors hadn't shown they were hurt by the alleged bond-rigging.

Several large investors, ranging from the Alaska Department of Revenue to the Iron Workers Pension Plan of Western Pennsylvania, claimed in the class action that the banks plotted through an interdealer market trading in bonds from various countries and multilateral institutions to fix bond prices for investors.

Even though the investors did...

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