Big Banks Face Wider Treasury Auction-Fixing Suit

Law360, New York (November 16, 2017, 9:58 PM EST) -- A lawsuit accusing 20 of the biggest Wall Street banks of rigging the $13 trillion market for securities sold by the U.S. Department of the Treasury was expanded late Wednesday night with the filing of an amended complaint that alleges two interrelated conspiracies.

The revised suit, filed in the Southern District of New York and brought by an array of large institutional investors, including union, state and municipal pension funds, includes allegations that bankers at competing banks “routinely” shared sensitive client information with each other in...
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