NEW YORK (Legal Newsline) — Employees with a welfare and pension fund and all others similarly situated have filed a class-action lawsuit against several businesses for alleged conspiracy and violation of antitrust laws.
Asbestos Workers Philadelphia Welfare and Pension Fund filed a complaint July 1 in U.S. District Court for the Southern District of New York against
Bank of America, Merrill Lynch, Pierce, Fenner and Smith Inc., et al,
alleging that they violated Section 1 of the Sherman Act.
According to the complaint, the plaintiff alleges that it suffered injury to its business and property because it paid higher prices for its sub-sovereign and agency bond trades. The plaintiff holds Bank of America, Merrill Lynch, Pierce, Fenner & Smith Inc., et al responsible because the defendants allegedly conspired to artificially inflate the prices that it paid SSA and artificially lowered the prices for which they sold SSA bonds in trading transactions with defendants.
The plaintiff requests a trial by jury and seeks finding the defendants jointly and separately liable for the damages, award for damages, costs of suit, attorneys’ fees and expenses and all other relief it may deem just and proper. It is represented by Merrill G. Davidoff and Michael C. Dell Angelo of Berger & Montague PC in Philadelphia.
U.S. District Court for the Southern District of New York case number 1:16-cv-05269