Nomura, Natixis Must Face Bond Claims Dodged by Other Top Banks

Natixis SA and two Nomura units must face claims they conspired to rig the $8 trillion market for European government bonds, but the lawsuit must be refiled against affiliates of Bank of America, NatWest, UBS, and UniCredit, a Manhattan federal judge ruled.

“Plaintiffs have alleged enough facts to suggest a conspiracy,” Judge Victor Marrero wrote Thursday, “but their allegations are inadequate to tie any specific defendants to that conspiracy beside Natixis, Nomura International, and NSI.”

The proposed class action, consolidated in the U.S. District Court for the Southern District of New York, followed reports of ...