Eagle Point Credit Co. was sued in federal court for allegedly conspiring with other investment management firms to inflate interest rates in the leveraged loan market, causing borrowers to pay more.
CentralSquare Technologies LLC alleged Eagle Point formed a “working group” agreement with other investors in collateralized loan obligations to ensure that leveraged loans transitioned away from the London Interbank Offer Rate at the highest possible price, according to a proposed class action filed Wednesday in the US District Court for the District of Connecticut.
Fair Oaks Capital LLC and Pearl Diver Capital LLP are among the other named defendants. ...
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