Deutsche Bank, Rabo Securities Prevail in European Bonds Lawsuit

Deutsche Bank AG and Rabo Securities USA convinced a judge to toss an antitrust suit accusing them of manipulating the price of bonds issued by European governments.

Judge Edgardo Ramos of the US District Court for the Southern District of New York granted the banks’ motion to dismiss Monday, saying pension fund plaintiffs failed to state an antitrust claim or the existence of an unlawful agreement under Section 1 of the Sherman Act. The proposed class action is among a string of antitrust suits aimed at large financial institutions over claims including bid rigging and price-fixing.

Ramos said the pension ...