Banking
Aug. 30, 2024
Plaintiffs consider summary judgment motion in California bond fraud case
The case accusing some of the nation's largest banks of artificially inflating bond interest rates has been mired in procedural concerns since it was filed in 2014.
The plaintiff's counsel in a qui tam action accusing eight of the nation's biggest banks of defrauding state and local governments by artificially inflating bond rates said Thursday they plan to seek summary judgment to bring the decade-long litigation process to an end.
The action comes one week after San Francisco Superior Court Judge Ethan P. Schulman granted summary judgment for the defendants, striking claims relating to bond transactions made prior to 2013 but leavin...
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