{"id":6190,"date":"2017-08-25T17:24:56","date_gmt":"2017-08-25T22:24:56","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1741"},"modified":"2017-08-25T17:24:56","modified_gmt":"2017-08-25T22:24:56","slug":"securities-cases-bank-america-deutsche-bank-settle-agency-bond-rigging-litigation-65-5m-pension-funds-sue-citigroup-jp-morgan-big-banks-stock-lending-market-rigging","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-bank-america-deutsche-bank-settle-agency-bond-rigging-litigation-65-5m-pension-funds-sue-citigroup-jp-morgan-big-banks-stock-lending-market-rigging\/","title":{"rendered":"Securities Cases: Bank of America and Deutsche Bank Settle Agency Bond Rigging Litigation for $65.5M &#038; Pension Funds Sue Citigroup, JP Morgan, and Other Big Banks Over Stock Lending Market Rigging Allegations"},"content":{"rendered":"<p>\t\t\t\tIn the U.S. District Court in Manhattan, preliminary settlements have been submitted in which Deutsche Bank (DB) will pay $48.5M and Bank of America (BAC) will pay $17M to resolve investor lawsuits accusing them of manipulating the agency bond market for years. A judge must still approve the settlements.<\/p>\n<p>Despite settling, both banks maintain they did not engage in any wrongdoing. The lead plaintiff investors include the Sheet Metal Workers Pension Plan of Northern California and the Iron Workers Pension Plan of Western Pennsylvania, and KBC Asset Management NV.<\/p>\n<p>According to court papers and as reported by <em>Reuters<\/em>, Bank of America and Deutsche Bank are two of the 10 banks accused of rigging the $9 trillion agency bond market for supranational, sub-sovereign and agency bonds, also known as SSA bonds. The plaintiffs contend that from 2005 to 2015 the banks shared price information with one another, worked as a \u201csuper-desk\u201d together, and allowed traders to coordinate strategies in the name of profit. Meantime, customers had to accept bond prices that were unfair to them.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-bank-america-deutsche-bank-settle-agency-bond-rigging-litigation-65-5m-pension-funds-sue-citigroup-jp-morgan-big-banks-stock-lending-market-rigging\/\"  title=\"Continue Reading Securities Cases: Bank of America and Deutsche Bank Settle Agency Bond Rigging Litigation for $65.5M &#038; Pension Funds Sue Citigroup, JP Morgan, and Other Big Banks Over Stock Lending Market Rigging Allegations\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the U.S. District Court in Manhattan, preliminary settlements have been submitted in which Deutsche Bank (DB) will pay $48.5M and Bank of America (BAC) will pay $17M to resolve investor lawsuits accusing them of manipulating the agency bond market for years. A judge must still approve the settlements. Despite settling, both banks maintain they [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3751,3817,3818,3752,3947,3958,3787,3957,3755],"tags":[],"class_list":["post-6190","post","type-post","status-publish","format-standard","hentry","category-bank-of-america","category-credit-suisse","category-deutsche-bank","category-financial-firms","category-goldman-sachs","category-jp-morgan-chase","category-morgan-stanley","category-pension-funds","category-ubs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bank of America and Deutsche Bank Settle Agency Bond Rigging Litigation &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"Bank of America and Deutsche Bank are two of the 10 banks accused of rigging the $9 trillion agency bond market for SSA bonds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-bank-america-deutsche-bank-settle-agency-bond-rigging-litigation-65-5m-pension-funds-sue-citigroup-jp-morgan-big-banks-stock-lending-market-rigging\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Bank of America and Deutsche Bank Settle Agency Bond Rigging Litigation &#8212; 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