Banks involved in Archegos meltdown face DOJ probe - Bloomberg Law
June 24 (Reuters) - U.S. investigators who focus on corporate collusion are examining how global banks handled multibillion-dollar trades with Bill Hwang's Archegos Capital Management, Bloomberg Law reported on Thursday.
At least a part of the probe is being handled by the U.S. Department of Justice's antitrust division, the report said, citing people familiar with the matter. (https://bit.ly/3dcAMed)
The Archegos blowup earlier this year cost big global banks including Credit Suisse, Nomura Holdings and Morgan Stanley more than $10 billion in losses.
(Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath)
