High Court Declines To Hear Short-Sale Antitrust Suit

Law360, New York (May 17, 2010, 1:52 PM EDT) -- The U.S. Supreme Court has declined to review a lower court's decision to dismiss an antitrust class action alleging a conspiracy among many of the largest investment banks in the U.S. — including UBS Financial Services Inc., Citigroup Inc. and Credit Suisse (USA) Inc. — to charge exorbitant and unjustified fees for so-called naked short-selling.

The high court denied the petition for writ of certiorari in an order Monday.

The lead plaintiff, Electronic Trading Group LLC, a short-seller, had asked the court to weigh in on...
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