© Reuters. FILE PHOTO-A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo
NEW YORK (Reuters) – Goldman Sachs, JPMorgan Chase (NYSE:), Morgan Stanley and UBS have reached a $499 million settlement of an antitrust lawsuit by investors who accused them of conspiring to stifle competition in the stock lending market.
The settlement was disclosed on Wednesday in a filing in Manhattan federal court, and also covers EquiLend, a joint venture between the defendants.
Credit Suisse, now owned by UBS, reached a related settlement of about $81 million last year. Bank of America (NYSE:) remains a defendant, court papers show.
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