JPMorgan, Barclays To Pay Mexican Bond Investors $20.7M
By Dean Seal (June 2, 2020, 5:16 PM EDT) -- JPMorgan Chase and Barclays PLC will pay a combined $20.7 million in what bondholders call "icebreaker" settlements of claims that the banks participated in a sweeping conspiracy to rig Mexican government bond prices, according to court filings Monday.
The proposed settlements put before a New York federal judge call for JPMorgan to pay $15 million and Barclays to pay $5.7 million, allowing them to exit litigation launched two years ago that claimed major banks and their related financial entities conspired for a decade to rig auctions for Mexican government bonds, sell them at artificially high prices and fix their "bid-ask spreads."...
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