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US judge dismisses suit alleging banks rigged Mexico bond sales

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US judge dismisses suit alleging banks rigged Mexico bond sales

U.S. District Judge Paul Oetken in Manhattan dismissed a proposed class-action lawsuit that accused 10 companies including JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. of rigging the market for Mexican government bonds, Reuters reported.

The lawsuit, filed by eight pension funds, alleged that the companies profited from the market manipulation. In dismissing the suit, the judge noted that the plaintiffs failed to allege a direct link between each defendant and a conspiracy.