New Mexico State Investment Council v. Bank of America Corporation et al

  1. January 25, 2024

    Big Banks Can Halt CDS Suit To Avoid 'Tangled' Discovery

    A New Mexico federal judge has ruled that JPMorgan, Goldman Sachs and other large banks can pause a class action that accuses them of conspiring to rig credit default swap auctions until a New York federal judge rules on a claims release issue involving a settlement in a related decade-old antitrust case.

  2. November 06, 2023

    Big Banks Say New Mexico CDS Suit Is Retread Of $1.9B Deal

    Major banks have urged a New York federal court to come to their rescue against a proposed investor class action in New Mexico that accuses them of conspiring to rig credit default swap auctions, arguing the suit is mostly, if not entirely, barred by a previous $1.86 billion settlement of a decade-old antitrust case.

  3. June 06, 2023

    Big Wall Street Banks Must Face CDS Auction Rigging Suit

    A New Mexico federal judge has ruled that a slew of Wall Street banks must face a proposed investor class action accusing them of conspiring to rig credit default swap auctions, largely rejecting a joint effort by the banks to dismiss the case.

  4. September 15, 2021

    Kirby McInerney, Gilbert Interim Leads In CDS Market Rig Suit

    A New Mexico federal judge on Wednesday appointed Kirby McInerney LLP and Gilbert LLP as interim co-lead class counsel in a proposed antitrust class action alleging big Wall Street banks have taken part in a major scheme to manipulate the benchmark prices used to value credit default swap contracts at settlement.

  5. July 02, 2021

    Big Banks Are Accused Of CDS Market Manipulation Scheme

    Major Wall Street banks have taken part in a more than decadelong, multibillion-dollar scheme to manipulate the benchmark prices used to value credit default swap contracts at settlement, New Mexico's State Investment Council has alleged in a new proposed antitrust class action.  

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