LONDON (Alliance News) - A number of major banks have agreed to a USD1.87 billion settlement to resolve allegations that they conspired to limit competition in the credit default swaps market, Bloomberg reported.
Goldman Sachs Group Inc, JPMorgan Chase & Co, Citigroup Inc and HSBC Holdings PLC all are understood to have reached an agreement in principle with a group of investors.
Barclays PLC and The Royal Bank of Scotland Group PLC are also understood to be among the banks involved with the case.
http://www.bloomberg.com/news/articles/2015-09-11/wall-street-banks-reach-settlement-on-cds-lawsuit-lawyer-says
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Barclays (BARC)
HSBC Holdings (HSBA)
