Pension Fund Suit Over Alleged Mexican Bond Manipulation Tossed

U.S. District Judge J. Paul Oetken said the plaintiffs haven’t alleged anything suggesting the individual banks were a part of a conspiracy to manipulate the market.

• Eight funds had sued 10 banks and related entities in 2018, alleging they conspired to fix the market for some debt securities that were issued by the Mexican government
• Last November, Mexico’s antitrust regulator fined six global banks, two brokers and a group of traders about 17.6 million pesos ($900,000) for violating the country’s securities law on volume manipulation
• Mexican agency to announce next month whether it plans to charge financial institutions with colluding ...