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WV AG Announces Antitrust Settlement

November 5th, 2015 by WCBC Radio

West Virginia Attorney General Patrick Morrisey today announced his office secured a settlement with Bayerische Landesbank (BLB) to resolve an antitrust case and benefit local agencies across the state.
 
The settlement resolved allegations that BLB engaged in unscrupulous business practices with several West Virginia entities. The lawsuit alleged BLB participated in a rigged bid system, which manipulated rates associated with bonds in hopes of getting a favorable percentage.
 
“This settlement is a win for the local agencies and West Virginia,” Attorney General Morrisey said.
 
BLB was among more than 20 banks and financial companies sued by the Attorney General’s Office for suspected violations of the Sherman Antitrust Act and the state Antitrust Act.

 

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