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Banks fail to dismiss US antitrust claims over Mexican government bonds

( January 15, 2025, 17:01 GMT | Official Statement) -- MLex Summary: Mexican branches of HSBC, Bank of America and others must face US price-fixing claims over Mexican government bonds, a federal judge ruled. District Judge J. Paul Oetken denied a motion to dismiss, saying that despite whatever market slang defendant traders used in chatroom transcripts quoted by plaintiffs, they clearly show direct agreements to fix prices. “By virtue of eight of the nine market makers agreeing to charge more for MGBs and buy them back for less, defendants caused plaintiffs to pay more for MGBs and gain back less upon resale than they would have in a truly competitive market,” Oetken said. See attached file. ...

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