Photo: Sittinan via Adobe Stock SDNY Judge Dismisses Antitrust Class Action Alleging Global Bank Price-Fixing Conspiracy
"Here, the plaintiff has failed to allege any facts to show that the defendants engaged in parallel conduct that suggests the existence of a price-fixing conspiracy and each defendant's participation in that conspiracy," U.S. District Judge John G. Koeltl wrote in his memorandum opinion. "This kind of barebones group pleading of parallel conduct is insufficient."
September 18, 2024 at 06:47 PM
2 minute read
What You Need to Know
- Judge John G. Koeltl of the Southern District of New York dismissed an antitrust class action filed by Scott+Scott.
- The complaint accused Citigroup and other global banks of conspiring to fix the price of U.K. government bonds sold in the United States.
- Scott+Scott filed the complaint on behalf of the Oklahoma Firefighters Pension and Retirement System.
A federal judge has dismissed an antitrust class action accusing Citigroup, Morgan Stanley and other global banks of inflating the prices of U.K. government bonds sold in the United States, ruling the plaintiffs have failed to allege a plausible price-fixing conspiracy.
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