Month: June 2021

In Board of Directors of the San Diego Association of Governments, acting as the San Diego County Regional Transportation Commission v. Bank of America Corporation et al., No. 1:21-cv-04893 (JMF), an organization representing the City Government of San Diego, California brought a class action suit against leading financial institutions alleging a conspiracy to manipulate interest rates for Variable Rate Demand Obligations (“VRDO’s”), and related misconduct. Continue reading San Diego County Files New Complaint Alleging VRDO Bond Price Fixing

On March 31, 2021, District Judge Gardephe dismissed a multidistrict litigation against Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Goldman Sachs, Morgan Stanley, RBS, and UBS, and three platform companies. The plaintiffs are 21 retirement and benefit funds, unions, banks, individuals and companies that claim the Wall Street giants violated federal anti-trust laws and state laws by conspiring to manipulate the U.S. Treasury Securities primary and secondary markets. Continue reading N.Y. Federal Judge Dismisses Treasury Auction Manipulation Case Against Big Banks