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Article: LAWSUITS: Judge Dismisses Bulk of Class Action Alleging Pricing-Fixing Conspiracy.(Washington)

Article from:
The Bond Buyer
Article date:
May 11, 2009
Copyright

Byline: Andrew Ackerman

A federal judge in New York City has dismissed most of the class action claims filed last year by five municipal issuers that alleged Wall Street and other firms engaged in a secret, anticompetitive price-fixing conspiracy of municipal derivatives and guaranteed investment contracts.

However, Judge Victor Marrero did not dismiss the claims the issuers filed against Bank of America NA, which has entered into an indemnity agreement with the Justice Department under which it is fully cooperating with Justice's ongoing antitrust investigation in this area.

In a 50-page order issued April 29, Marrero of the U.S. District ...

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