Investors Push JPML For Centralization In CDS Antitrust Row
By Matt Fair
Law360, Philadelphia (September 26, 2013, 5:28 PM EDT) -- An attorney for a union accusing a group of big banks, including Bank of America Corp. and Citibank NA, of restraining competition by preventing market-based trading of credit default swaps told the U.S. Judicial Panel on Multidistrict Litigation on Tuesday that the cases should be centralized in Chicago.
Christopher Burke, an attorney with Scott & Scott LLP representing Sheet Metal Workers Local No. 33, told the panel that the handful of cases filed so far over the alleged scheme — which claims the defendant banks, an...