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Deutsche Bank and BofA move to settle bond-rigging litigation

  • The first preliminary settlements – $48.5 million for Deutsche Bank (NYSE:DB) and $17 million for Bank of America (NYSE:BAC) – have been filed in a lawsuit over a “brazen conspiracy” to rig the government agency bond market, according to court documents.
  • The lawsuit accuses 10 banks in all of colluding to force unfair bond prices on customers from 2005 to 2015.
  • The other defendants include BNP Paribas (OTCQX:BNPQY), Citigroup (NYSE:C), Credit Agricole, Credit Suisse (NYSE:CS), HSBC (NYSE:HSBC), Nomura (NYSE:NMR), Royal Bank of Canada (NYSE:RY), and Toronto-Dominion Bank (NYSE:TD).

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