It was inevitable that the collapse of the $300 billion ARS market in 2008 would trigger securities litigation. And it did, but the ARS freeze also spawned a massive antitrust case, after a trio of plaintiffs firms cooked up a theory that the market's demise was triggered by an illegal boycott by major banks.
Circuit Rejects Antitrust Suit in Ruin of Market for Auction-Rate Securities
The Litigation Daily
March 7, 2013
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