Several Supreme Court justices expressed skepticism Tuesday about eliminating the immunity from U.S. antitrust laws Wall Street investment banks generally enjoy.
The Court heard oral arguments in a case stemming from a class action lawsuit by a group of investors seeking damages from 16 securities firms and institutional investors. The investors charged that the banks violated antitrust laws in the late 1990s by conspiring to artificially increase the prices of newly issued shares in almost 900 initial public offerings.
