Goldman, JPMorgan, Morgan Stanley, UBS in $499 mln stock lending settlement

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A logo of Swiss bank UBS is seen in Zurich

FILE PHOTO-A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing Rights

NEW YORK, Aug 23 (Reuters) – Goldman Sachs (GS.N), JPMorgan Chase (JPM.N), Morgan Stanley (MS.N) and UBS (UBSG.S) have reached a $499 million settlement of an antitrust lawsuit by investors who accused them of conspiring to stifle competition in the stock lending market.

The settlement was disclosed on Wednesday in a filing in Manhattan federal court, and also covers EquiLend, a joint venture between the defendants.

Credit Suisse, now owned by UBS, reached a related settlement of about $81 million last year. Bank of America (BAC.N) remains a defendant, court papers show.

Reporting by Jonathan Stempel in New York

Our Standards: The Thomson Reuters Trust Principles.

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