Antitrust - Bank of America - Barclays - BNP - Litigation over alleged manipulation of credit default swap auction prices (US)

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The New Mexico State Investment Council filed a proposed class action accusing Bank of America, Barclays, and other banks, along with Creditex, ISDA, and Markit, of conspiring to manipulate the credit default swaps “final auction price.” The complaint alleges that the defendants used their power over the CDS auction process to rig the CDS auctions and produce a (typically) overly low CDS final auction price.

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