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2nd Circ. Affirms Class Cert. In VRDO Suit Against Banks

By Katryna Perera ( August 1, 2025, 9:16 PM EDT) -- The Second Circuit on Friday upheld a lower court order granting class certification to a group of American cities and others that are accusing eight large banks of inflating interest rates on debt securities known as variable rate demand obligations, saying the district court applied the correct legal standard in granting certification....

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