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Bank of America, JPMorgan, others file reply supporting dismissal of US antitrust claims over credit default swaps auctions

( July 12, 2022, 22:31 GMT | Official Statement) -- MLex Summary: Bank of America, JPMorgan, Barclays and other dealers of credit default swaps filed a reply supporting a motion to dismiss claims that they conspired to manipulate auction prices, arguing that plaintiffs’ opposition brief highlights the stark inadequacy of conspiracy allegations. “Plaintiffs fail to identify a single communication that allegedly furthered the conspiracy or a single collusive auction bid in a single one of those auctions in over a decade. Instead, plaintiffs urge the court to simply infer the existence of a massive conspiracy from little more than crude statistics suggesting that Defendants’ auction submissions reflected directionally similar views of the value of auctioned securities,” they said.See document below. ...

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