May 6, 2020 / 6:34 PM / 22 days ago

JPMorgan faces two lawsuits alleging Treasury futures 'spoofing'

JPMorgan Chase & Co has been sued at least twice this month for allegedly manipulating prices of U.S. Treasury futures over more than a decade by placing “spoof” trades, in an effort to benefit its own trading positions at the expense of other investors.

The proposed class actions against the largest U.S. bank were filed on May 1 in Chicago federal court by Synova Asset Management LLC and Michigan trader Charles Proctor, and on May 5 in Manhattan federal court by Breakwater Trading LLC, a liquidity provider for the Treasury market.

To read the full story on Westlaw Practitioner Insights, click here:

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