Investor Lawsuits Pile up Claiming U.S. Treasury Market is Rigged

Financial Times
September 28, 2015

Gregory Asciolla expects the now-25 related U.S. Treasury market manipulation cases to be consolidated


On July 23, 2015, the Firm filed the first nationwide class action alleging manipulation of the U.S. Treasury Auction. Two months later, other firms followed our lead and an additional 24 cases were filed.

“The Treasury auction itself was rigged,” says Gregory Asciolla, a partner at law firm Labaton Sucharow, which is lead counsel in two cases for State-Boston Retirement System and Arkansas Teacher Retirement System. “But it is broader in that we allege as well that the when-issued market was rigged and manipulated.”