Banks Shoot To Kill Municipal Bond Antitrust MDL

Law360, New York (September 21, 2009, 2:03 PM EDT) -- Wachovia Bank NA, JPMorgan Chase & Co. and other major financial institutions have asked a judge to dismiss the latest consolidated complaint in the multidistrict litigation accusing them of fixing prices of municipal derivatives, contending that the municipalities have failed to plead a massive conspiracy.

In the U.S. District Court for the Southern District of New York on Friday, more than a dozen financial institutions moved to dismiss the second amended consolidated putative class action brought on behalf of state and local governments and other entities...
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