A group of major financial institutions is set to pay $499 million to investors as part of a proposed settlement agreement in an antitrust class action suit in the Southern District of New York, according to a motion for preliminary approval filed Wednesday.
The agreement between Goldman Sachs, JPMorgan, Morgan Stanley, UBS, EquiLend and the plaintiffs, who are represented by Quinn Emanuel Urquhart & Sullivan and Cohen Milstein Sellers & Toll, also calls for governance changes at EquiLend.
