New Mexico State Investment Council v. Bank of America Corporation

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW MEXICO IN RE CREDIT DEFAULT SWAPS AUCTIONS LITIGATION Civ. No. 21-0606 KG/DLM MEMORANDUM OPINION AND ORDER “Credit default swap (CDS) auction” is Wall Street-speak for, essentially, settling-up an insurance payout when corporate or municipal bond issuers default on those bonds or declare bankruptcy. The Plaintiffs', which the Court collectively refers to as “Plaintiffs,” are quasi-state funds that manage state and state-employee asset funds and retirement accounts. Plaintiffs allege that Defendants impermissibly colluded and…