Six banks to settle allegations of manipulating EU bond prices (NYSE:BAC)

Six more leading international banks have reached a settlement in an antitrust lawsuit in Manhattan, New York, accusing them of colluding to fix European bond prices more than a decade ago.

Bank of America (BA), Citigroup (NYSE:C), Jeffery (NYSE:JEF), NatWest (OTC:NEW), Nomura (NMR) and UBS (UBS) agreed to an $80 million settlement, the initial terms of which were filed in Manhattan federal court late Friday night, according to Reuters Agency.

The dispute concerns allegations that between 2007 and 2012, banks colluded at auctions to bid high prices for European bonds and sell them at inflated prices to investors, including investment and pension funds.

Investors led by three public pension funds led the charge. All six banks have denied wrongdoing as part of the settlement, which still requires court approval to go into effect.

If approved, the settlement would end a multi-year lawsuit and lead to $120 million in total payments from global financial institutions. Banks including JPMorgan Chase (JPM), State Street (STT), and UniCredit (OTCPK:UNCFF) (OTCPK:UNCRY) previously settled for $40 million.