US Banks Escape Bond Price-Fix Suit

Law360 (March 25, 2020, 9:38 PM EDT) -- A New York federal judge has released several American banks and affiliates of some of the world's largest financial institutions, including Barclays PLC, Citigroup Inc. and TD Securities, from a proposed class action by investors accusing them of rigging the market for bonds issued by foreign governments.

U.S. District Judge Edgardo Ramos concluded that the investors, who include the Alaska Department of Revenue and the Iron Workers Pension Plan of Western Pennsylvania, failed to plausibly demonstrate how they were affected by the domestic dealers' alleged bond-rigging, according to a March 18 order unsealed Wednesday. 

Judge Ramos’ partly redacted 14-page ruling granting the...

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