Banks win dismissal of litigation alleging rigging of U.S. Treasury securities By Reuters

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© Reuters. The logo and seal of the Department of the Treasury is seen inside the new United States embassy building is seen during a press preview near the River Thames in London

NEW YORK (Reuters) – A U.S. judge on Wednesday dismissed litigation accusing 10 large banks of conspiring to suppress competition in the multi-trillion dollar market for U.S. Treasury securities.

The decision by U.S. District Judge Paul Gardephe in Manhattan came in long-running litigation by 21 pension, retirement and benefit funds, as well as unions, banks, individuals, and companies that traded in Treasuries.

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