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Banks oppose class certification in stock loan antitrust case

( August 3, 2021, 22:31 GMT | Official Statement) -- MLex Summary: Bank of America, Goldman Sachs, Morgan Stanley and other prime brokers said that plaintiffs bringing antitrust claims present an overly simplified depiction of the stock lending market, glossing over inherent individualized inquiries and class conflicts that require a denial of their class certification motion. They argued that taking market realities into account, plaintiffs’ depiction of a “but-for world” in which anonymous platform trading would be superior to over-the-counter trading for all short sellers and all beneficial owners is “exposed as a fiction.”See document below. ...

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