Pimco Class Action Lawsuit Appeal Over Pimco’s Alleged Market Manipulation Denied By Supreme Court
A federal appeal in a class action lawsuit against Pacific Investment Management Co. or Pimco seeking more than $600 million dollars for Pimco’s alleged manipulation of Treasury note futures contracts at the Chicago Board of Trade was rejected by the United States Supreme Court, according to a class action news report.
The Pimco class action lawsuit complaint reportedly alleged that Pimco cornered or squeezed the market for 10 year Treasury note futures contracts during May and June of 2005. The Supreme Court rejected the appeal from the 7th Circuit Court of Appeals, which had affirmed class action status of the lawsuit.
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