HSBC, Other Big Banks Lose Bid to Keep Antitrust Suit Out of US

HSBC Holdings Plc, Bank of America Corp., Deutsche Bank AG,and other banks targeted in a Mexican bond price-fixing suit will face antitrust claims after the the Second Circuit vacated a lower court’s ruling dismissing the case.

In a Friday ruling, the US Court of Appeals for the Second Circuit said investors plausibly alleged New York as a proper forum for the case because the banks actively sold billions of dollars’ worth of price-fixed bonds through their agents in New York, even though the alleged wrongdoing took place in Mexico.

The US District Court for the Southern District ...