JPML Centralizes CDS Antitrust Suits In NY

Law360, Washington (October 17, 2013, 4:11 PM EDT) -- Three class actions 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 have been consolidated in the Southern District of New York, according to a Wednesday order by the U.S. Judicial Panel on Multidistrict Litigation.

The JPML centralized the actions with other cases pursuant to Section 1407 of the U.S. Code, according to the order.

“On the basis of the papers filed and the hearing session held, we find that...
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