Lawsuit accuses 22 banks of manipulating U.S. Treasury auctions

Twenty-two financial companies that have served as primary dealers of U.S. Treasury securities were sued in federal court on Thursday, in what was described as the first nationwide class action alleging a conspiracy to manipulate Treasury auctions that harmed both investors and borrowers. The State-Boston Retirement System, the pension fund for Boston public employees, accused Bank of America Corp's (BAC.N) Merrill Lynch unit, Citigroup Inc (C.N), Credit Suisse Group AG CGSN.VX, Deutsche Bank (DBKGn.DE), Goldman Sachs Group Inc (GS.N), HSBC Holdings Plc (HSBA.L), JPMorgan Chase & Co......(read more)

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