Banks Fight To Nix Exchange's Boycott Conspiracy Suit

Law360 (May 18, 2020, 4:50 PM EDT) -- Several major banks have shot back at a small trading exchange's bid to preserve its suit accusing the banks of conspiring to shut it out of the credit default swap market, telling a New York federal judge that the exchange's attempt to salvage antitrust claims is implausible.

Barclays, BNP Paribas, Citi, Credit Suisse, JPMorgan and UBS slammed Tera Group Inc.'s bid to defeat their dismissal bid Friday, arguing that Tera failed to connect any of the banks to an alleged boycott conspiracy.

"Even if Tera had otherwise stated a plausible claim against two or more defendants (and it has not), the...

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