Banks must face class action over interest rate swaps: US judge
Add BT as a preferred sourceNew York
A US judge on Friday said investors may pursue part of their nationwide antitrust lawsuit accusing 12 of the world's biggest banks of conspiring to rig the US$275 trillion market for interest rate swaps.
US District Judge Paul Engelmayer in Manhattan said 11 of the banks, including Bank of America Corp and JPMorgan Chase & Co, must defend against claims that from 2013 to 2016 they boycotted three upstart electronic platforms for swaps trading, hoping to destroy them.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
Is it time to scrap COE categories for cars?
