Banks Win U.S. Judge's Approval of $1.87 Billion CDS Accord
- Goldman Sachs, JPMorgan and others agreed to deal in September
- Banks unfairly made billions in opaque market, investors said
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Banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc. and HSBC Holdings Plc won a judge’s approval of a $1.87 billion settlement to resolve allegations they conspired to limit competition in the lucrative credit-default swaps market.
U.S. District Judge Denise Cote in Manhattan granted final approval to the settlement on Friday. The accord was disclosed in court in September.