Freddie, Fannie Bond Buyers Seek Cert. In Price-Rigging Suit

Law360 (November 20, 2019, 6:32 PM EST) -- Days after announcing a third settlement in the litigation, buyers of Fannie Mae and Freddie Mac bonds asked a New York federal judge for class certification in their antitrust suit against Bank of America, JPMorgan and other banking behemoths.

The motion filed Tuesday seeks to certify a class of investors who purchased debt securities for government-sponsored entities such as Fannie Mae and Freddie Mac on the secondary market between 2009 and 2016, the time period in which more than a dozen major financial institutions have been accused of scheming to inflate the prices of those so-called GSE bonds.

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