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US: One lawyer stands against major banks in renewed antitrust case

By  |  March 20, 2013
US: One lawyer stands against major banks in renewed antitrust case

A new development in a fight-year fight against three major Wall Street banks has been revived by a New York appeals court Tuesday as a lawyer contends the banks violated the Donnelly Act. According to reports, the court found that the plaintiff, finance lawyer Linda Grant Williams, does indeed have standing to make a case against Citigroup Inc., JP Morgan Chase and Goldman Sachs. Williams is arguing the banks colluded to block her patented technique of reducing costs concerning the financing of airport construction. A trial court in 2012 dismissed the case. Williams claims she developed a way to reduce interest rates on airline specialty facility bonds; her patented technique would save money for airlines and its customers. The suit was first filed in 2008 and re-filed in 2010.

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    Full Content: Thomson Reuters

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