USDC, Southern District of New York
CPM represented dozens of public entities in litigation alleging the manipulation of municipal investments for bond funds by numerous financial institutions, insurance companies and brokers colluded to bid-rig the multi-billion dollar derivatives market. Bank of America sought amnesty for violations of U.S. antitrust laws by admitting its involvement in the conspiracy. Several executives from major financial institutions including JPMorgan, UBS and GE Capital have pled guilty to criminal charges for their involvement in the bid-rigging conspiracy. By bringing individual actions, CPM was able to maximize gains on behalf of its public entity clients.
