PaRR Global, "Canadian SSA bond-fixing litigation expected to be certified then settle, lawyers say"
This article is reproduced with permission from PaRR Global, an Acuris company.
The article discusses the Mancinelli v. Bank of America case, a $1.25 billion CAD lawsuit likely to be certified as a class action in which several banks are accused of conspiring to fix bond prices.
Paul Morrison is among the lawyers quoted. He comments “conspiracy cases are more often than not granted certification” and notes that this case is of particular interest because of the market. “These SSA bonds are pretty specialized creatures and the defendants are some of the largest banks carrying on business in Canada,” adding “the defendants are very big, very well financed financial institutions.”
