Bank of America Corp. (BAC) has agreed to pay $20 million to settle a lawsuit in which investors alleged the bank conspired to fix prices and manipulate markets for municipal derivatives, Reuters reported Wednesday on its website, citing a filing in a Manhattan court.
Plaintiffs in the suit, which included the city of Baltimore, the Central Bucks School District and Bucks County Water & Sewer Authority, maintained that Bank of America's actions violated antitrust law and resulted in the plaintiffs receiving lower interest rates. A spokesman for the bank declined comment to Reuters.
Full story at: www.reuters.com/article/2013/12/04/us-bankofamerica-settlement-bonds-riggin-idUSBRE9B319B20131204
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