SAN DIEGO, May 11, 2020 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that an investor, who traded in odd-lots of corporate bonds in the secondary market, filed a lawsuit against several big banks alleging they conspired to keep billions from small bond traders.
Investors who purchased and sold odd-lots of corporate bonds in the secondary market, might have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The lawsuit was filed against Bank of America Securities, Inc, Barclays Capital Inc., Citigroup Inc, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc, The Goldman Sachs Group, Inc., JPMorgan Chase & Co., J.P. Morgan Securities LLC; Morgan Stanley, NatWest Markets Securities Inc., Wells Fargo & Co., and others.
The plaintiff claims that as a result of the defendants’ conspiracy, certain investors paid more when buying, and received less when selling, their corporate bonds, suffering antitrust injury.
The plaintiff says that by keeping the price at which Defendants buy bonds (the bid) lower than the price at which they sell bonds (the offer), Defendants capture the bid-offer spread as compensation for their market-making activities, and that there is evidence that supports the conclusion that the wider odd-lot bid-offer spreads paid by certain investors are the result of an anticompetitive, horizontal agreement among Defendants to restrict competition.
Those who purchased and sold odd-lots of corporate bonds in the secondary market, should contact the Shareholders Foundation.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.