Major banks pay $499M to settle lawsuit alleging anti-competitive practices in stock lending market

Four major banks to pay $499 million to settle anti-competitive lawsuit over stock lending market
Banks accused of trying to corner market with EquiLend platform, hindering new competitors
Settlement aims to prevent similar alleged anti-competitive practices in the future
Banks have not admitted wrongdoing, EquiLend denied allegations
Remaining defendant Bank of America has not yet settled its part of the lawsuit

dailyhodl.com

Relevant topic timeline:

8/23/2023

Goldman, JPMorgan, Morgan Stanley, UBS in $499 million stock lending settlement

Goldman Sachs, JPMorgan Chase, Morgan Stanley, and UBS have agreed to pay $499 million to settle an antitrust lawsuit accusing them of conspiring to stifle competition in the stock lending market.

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