Two US pension funds, the Oklahoma Firefighters Pension and Retirement System and the Electrical Workers Pension Fund Local, filed a lawsuit on March 30 accusing Mexican affiliates of banks HSBC, Credit Suisse, Barclays and Deutsche Bank of collusion in operations related to bonds issued by the Mexican government.
The lawsuit presented by the funds was prompted by the investigation carried out by the Federal Economic Competition Commission (Cofece) of Mexico, which it announced in April 2017.
“Those actions show in general that the defendants conspired to fix the prices of Mexican government bonds between January 2006 and April 2007, in violation of federal antitrust laws,” HSBC said in its presentation of results for the first half of the year, in comments regarding the new lawsuit against them.
Full Content: Forbes
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
CMA Fines Tereos £25,000 for Failing to Provide Key Information in Merger Probe
Sep 27, 2024 by
CPI
Google Defends Its Role in Online Advertising Market in Antitrust Trial
Sep 27, 2024 by
CPI
Musk’s X Requests Brazil Supreme Court to Resume Service After Shutdown
Sep 26, 2024 by
CPI
Visa Acquires AI Firm Featurespace to Enhance Fraud Prevention
Sep 26, 2024 by
CPI
Visa Gears Up for Legal Fight with DOJ Over Debit Card Monopoly Allegations
Sep 26, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh