Published reports indicate that Goldman Sachs Group Inc., JPMorgan Chase & Co., and other investment banks have been sued for conspiring to control the “stock lending” market, affecting investor’s short-selling stocks.
Published reports indicate that Goldman Sachs Group Inc., JPMorgan Chase & Co., and other investment banks have been sued for conspiring to control the “stock lending” market, affecting investor’s short-selling stocks. The suit claims that, by stifling a shift to an electronic lending system, the defendants inflated the fees paid by short sellers engaging in stock lending transactions with the defendants.
Most short-sellers engage in such transactions, and the case alleges that the practices complained of injured anyone participating into a securities lending transaction with the defendants since January 2009. The defendants include Goldman Sachs Group Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley, Credit Suisse Group AG, and UBS AG.
If you or someone you know may have been impacted by these allegations, please contact Finkelstein Thompson LLP at contact@finkelsteinthompson.com or call us toll free at 1-877-337-1050.
