TITLE

Utility Sues Banks over Derivative Sales

PUB. DATE
November 2009
SOURCE
American Banker;11/18/2009, Vol. 174 Issue 208, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Sacramento Municipal Utility District filed a lawsuit against JPMorgan Chase & Co., UBS AG, and Bank of America Corp. The three financial firms are accused of conspiring to rig sales of municipal derivatives and sharing illegal kickbacks disguised as fees. The lawsuit was filed in federal court in Sacramento, California, and centers on issues of antitrust law.
ACCESSION #
45371493

 

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