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Banks' move to dismiss US antitrust claims over certain bonds should be denied, plaintiffs say

( December 2, 2024, 16:38 GMT | Official Statement) -- MLex Summary:  Bank of America, Wells Fargo and others must face US claims they conspired to inflate the prices of all trades of "odd lots" of corporate bonds, according to traders. Plaintiffs opposed a motion-to-dismiss, saying their complaint is sufficiently specific. “Plaintiffs have tied each defendant individually to a conspiracy to constrain the emergence of more competitive electronic trading platforms that might endanger defendants’ supracompetitive odd-lot spreads. Plaintiffs also provide individualized economic and statistical evidence of Defendants’ parallel and supracompetitive pricing of odd lots, and explain why there is nothing economically rational about defendants’ conduct,” they said in their brief.  See attached file. ...

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