Fannie-Freddie Bond Suits Shouldn’t Involve Jefferies, Bank Says

Jefferies Group LLC wants out of Louisiana’s lawsuit alleging manipulation of the $550 billion market for bonds backed by Fannie Mae and Freddie Mac, which only mentions the investment bank once and doesn’t accuse it of wrongdoing.

The state has accused 20 global banks of colluding to narrow the spread between what they pay for the unsecured over-the-counter bonds and what they get for them. The antitrust suit, filed in the U.S. District Court for the Middle District of Louisiana, appears to be the only such case not consolidated with a proposed multidistrict class action proceeding in Manhattan federal court. ...