Credit Default Swap Purchasers Accuse Bankers Of Blocking Competition
Posted 06/4/13
A new class action alleges that international megabanks used their monopoly power to manipulate the credit default swaps market.
Sheet Metal Workers Local No. 33 Cleveland District Pension Plan has filed a class action in Illinois federal court against 15 defendants, including Bank of America, Citibank, and JPMorgan Chase & Co. According to the complaint, the defendants used companies they controlled, including...