Wall Street Groups Urge Judge to Toss Optimum Antitrust Suit

Wall Street trade groups lined up behind Apollo Global Management and other firms seeking dismissal of a lawsuit by Optimum Communications Inc. accusing lenders of forming an “illegal cartel” to freeze the telecom company out of the US credit market.

The Securities Industry and Financial Markets Association, Managed Funds Association and other groups on Thursday sought permission to file a brief in support of the firms sued by Optimum. Billionaire Patrick Drahi’s company, previously known as Altice USA, sued Apollo, Ares Management, Oaktree Capital Management and other creditors in November.

In their court filing, the groups defended ...