GE To Pay $18M To Exit Municipal Bond-Rigging Class Action

Law360, Los Angeles (December 6, 2013, 9:08 PM EST) -- Three General Electric Co. units will pay $18 million to end part of their involvement in multidistrict litigation accusing them and other financial institutions of colluding to rig bids in the municipal bond derivatives market, according to a filing in New York federal court Friday.

GE finance arms Trinity Funding Co. LLC, Trinity Plus Funding Co. LLC and GE Funding Capital Market Services Inc. agreed to pay the sum to end the dispute with three municipal bonds issuers, according to a motion for preliminary settlement....
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