07:23 AM EDT, 07/03/2024 (MT Newswires) -- A federal appeals court reinstated a $10 billion antitrust lawsuit accusing 10 banks of overcharging investors billions of dollars through corporate bonds, saying the trial judge who earlier dismissed the case should have been recused because of a conflict of interest, media outlets reported Tuesday.

The 2nd US Circuit Court of Appeals in Manhattan said that US District Judge Lewis Liman's partiality could reasonably be questioned because his wife owns stock in Bank of America ( BAC ) , reports said.

Bank of America ( BAC ) and nine other banks including Citigroup ( C ) , Credit Suisse (UBS), Goldman Sachs ( GS ) , JPMorgan Chase ( JPM ) , Morgan Stanley ( MS ) , and Wells Fargo ( WFC ) were accused of overcharging bond investors since 2006 on "odd-lot" trades that are worth less than $1 million.

The Manhattan court did not immediately respond to MT Newswires' request for comment.

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