Wall Street’s Projected Tab on Muni Price-Fixing Suits Expected to Plunge
- BI analyst Stein sees banks settling for about $900 million
- Illinois settled near-decade of litigation on VRDO pricing
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Wall Street banks’ potential bill to settle bond price-fixing lawsuits has been slashed, falling to around $900 million from about $2.5 billion penciled in just a month ago.
That’s the thinking of Elliott Stein, senior litigation analyst at Bloomberg Intelligence, after Illinois settled for $68 million, roughly 20% of damages last month, likely setting a template for other settlements of the three remaining False Claims Act lawsuits.