NEW YORK, Sept 4 A Manhattan federal judge on
Thursday narrowed but refused to dismiss a lawsuit accusing 12
major banks of fixing prices and restraining competition in the
market for credit default swaps, violating U.S. antitrust law.
U.S. District Judge Denise Cote dismissed some but not all
antitrust claims, as well as claims for damages based on
investments made prior to the fall of 2008. She said the
remainder of the litigation may proceed.
The lawsuit was brought on behalf of people who transacted
with the banks in credit default swaps from Jan. 1, 2008 to Dec.
The International Swaps and Derivatives Association and
Markit Ltd, which provides pricing services for credit
derivatives, were also named as defendants.
(Reporting by Jonathan Stempel in New York)