Investors Want Bond Price-Fix Suit Against Banks To Proceed

Law360 (June 28, 2019, 7:48 PM EDT) -- Investors said they provided a “remarkable degree of direct evidence” to support allegations that Citigroup, Goldman Sachs, JPMorgan and others colluded to fix bond prices for government-sponsored entities, urging a New York federal court on Thursday to keep their claims alive.

The investors, which include the city of Birmingham, Alabama's retirement plan and several union funds, pushed back against a bid by the securities units of the world’s largest financial institutions, including Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., BNP Paribas SA, and Bank of America Corp., to throw out their proposed class action. They argued that evidence obtained...

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