Court Appoints Firms For Bond Rigging Lawsuit

Quinn Emanuel, Cohen Milstein Sellers & Toll and Labaton Sucharow  were appointed co-lead counsel in a class action lawsuit accusing major banks of rigging the market for securities sold by the US Department of Treasury. The appointment was made by US District Court Judge Paul G. Gardephe of the Southern District of New York. The suit is being brought on behalf of pension funds and other institutional investors who are large purchasers and sellers of US Treasury Bonds. About 50 class action complaints have been filed alleging that banks including Goldman Sachs, Deutsche Bank and Barclays conspired to manipulate auction prices to boost profits.