Lawsuit accuses 22 banks of manipulating US Treasury auctions | WHAT REALLY HAPPENED

Lawsuit accuses 22 banks of manipulating US Treasury auctions

Twenty-two financial companies that have served as primary dealers of U.S. Treasury securities were sued in federal court on Thursday, in what was described as the first nationwide class action alleging a conspiracy to manipulate Treasury auctions that harmed both investors and borrowers.

The State-Boston Retirement System, the pension fund for Boston public employees, accused Bank of America's Merrill Lynch unit, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, UBS, and 14 other defendants of illegally trying to profit on the sale of Treasury bills, notes and bonds at investors' expense.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA