Investors Hit 24 Banks With Market Manipulation Class Action

Law360, New York (July 29, 2015, 8:34 PM EDT) -- Nearly 25 financial institutions, including Barclays Capital Inc., Goldman Sachs & Co. and UBS Securities LLC were hit with a proposed class action by investors in New York federal court on Tuesday, a suit that claims they colluded to manipulate the U.S. Treasury securities market.

The United Food and Commercial Workers International Union, which initiated the suit, say the proposed class of investors was harmed by being forced to buy and sell Treasury securities and financial instruments at artificial prices resulting from market manipulation by the...
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