Banks Go Back To Mat Against Odd-Lot Bonds Antitrust Suit

Law360 (December 16, 2020, 8:40 PM EST) -- Bank of America, JPMorgan Chase and other banking giants have renewed their push in New York federal court to torpedo a proposed class action accusing them of colluding to rig prices for smaller trades of corporate bonds, saying the latest version of the case is still "impossibly broad" and "legally insufficient."

In a brief filed Tuesday, the banks said the individual and institutional investors suing them have not succeeded in plugging the holes in their antirust case with their amended complaint, which targets subsidiaries and some parents of nearly a dozen big banks and alleges they've conspired since 2006 to keep...

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