Pimco will pay $92M to settle a $600M class-action lawsuit accusing it of illegally squeezing...

|By:, SA News Editor

Pimco will pay $92M to settle a $600M class-action lawsuit accusing it of illegally squeezing the T-note futures market by not liquidating its longs in the June 05 contract even though it already owned the underlying. Shorts were left scrambling to cover, which shot prices higher.