07:25 AM EDT, 07/29/2024 (MT Newswires) -- Bank of America ( BAC ) , Citigroup ( C ) , Jefferies (JEF), NatWest (NWG), Nomura, and UBS agreed to pay $80 million to settle an antitrust lawsuit in the Manhattan federal court blaming them of plotting to rig prices of European government bonds, Reuters reported Friday.

A preliminary settlement was filed on Friday and requires approval from a judge, the report said.

This comes after investors led by three public pension funds accused the banks of collaborating to bid high prices at bond auctions between 2007 and 2012 to ensure a controlling market share and then sell the bonds at escalated prices.

All six banks denied wrongdoing in agreeing to settle, according to Reuters.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 41.70, Change: +0.03, Percent Change: +0.07