Investors Say They Have 'Smoking Gun' In Auction-Fixing Suit

By J. Edward Moreno (August 5, 2021, 6:59 PM EDT) -- Investors suing a group of Wall Street banks including Goldman Sachs and Credit Suisse for allegedly conspiring to manipulate the $14 trillion market for securities issued by the U.S. Treasury Department are fighting to keep their case alive after their initial complaint was dismissed in March.

On Wednesday, investors filed their omnibus opposition brief contesting the various dismissal briefs filed the same day by the large banks they're suing. In it, they say their amended complaint includes the "proverbial smoking gun" in the form of direct evidence that U.S. District Judge Paul G. Gardephe said was missing in their initial complaint....

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