CSGN.S, MS.N, UBSG.S, GS.N, JPM.N conspired to stifle competition in $2 trillion stock lending market?

27 September, 2018


The plaintiffs accused units of Goldman, JPMorgan, Bank of America Corp (BAC.N), Credit Suisse Group AG (CSGN.S), Morgan Stanley (MS.N) and UBS Group AG (UBSG.S) of conspiring since 2009 to keep the stock lending market “in the stone age” by boycotting the startup platforms AQS, Data Explorers and SL-x. But in her 93-page decision, U.S. District Judge Katherine Polk Failla found sufficient “direct evidence” from the plaintiffs to suggest an illegal conspiracy and let them continue their proposed class-action case.
Iowa Public Employees’ Retirement System v. Merrill Lynch, Pierce, Fenner & Smith Inc et al, U.S. District Court, Southern District of New York, No. 17-06221.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: