Stifel, Jefferies Exit Louisiana AG’s GSE Bond-Rigging Case
Jon Hill, 31 March 2021
A Baton Rouge federal judge has freed units of Stifel Financial and Jefferies Financial from Louisiana’s lawsuit alleging Wall Street firms conspired to rig prices of bonds issued by government-sponsored enterprises like Fannie Mae and Freddie Mac, ruling the state blew its last chance to keep them in the case.
In decisions filed Tuesday, U.S. District Judge Shelly D. Dick granted dismissal with prejudice for Stifel Nicolaus & Co. Inc. and Jefferies Group LLC, which were among a slew of financial institutions sued by Louisiana’s state attorney general for allegedly gouging the state on its GSE bond purchases and sales between 2009 and 2016 with a “persistent, pervasive and secret” price-fixing conspiracy. Continue reading “Article: Stifel, Jefferies Exit Louisiana AG’s GSE Bond-Rigging Case”
