Citi, Others Let Off Hook In ARS Antitrust Actions

By Christopher Norton

Law360, New York (January 27, 2010, 4:06 PM ET) -- Citigroup Inc., UBS AG, Bank of America Corp., the Goldman Sachs Group Inc. and several other financial giants have won the dismissal of two putative class actions alleging antitrust violations in connection with the presentation and marketing of auction rate securities.

Judge Barbara S. Jones of the U.S. District Court for the Southern District of New York on Tuesday dismissed the two complaints at the defendants' request, saying the ARS market lies squarely within an area of market activity that the securities laws seek to regulate,...
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