A US appeals court threw out the dismissal of an antitrust lawsuit accusing 10 large banks of overcharging investors on corporate bonds, saying the trial judge should have been recused because his wife owned stock in one of the banks.
The 2nd US Circuit Court of Appeals in Manhattan said that while US District Judge Lewis Liman “almost certainly unknowingly” had a conflict of interest, his partiality could reasonably be questioned because his wife’s ownership of Bank of America stock created an “appearance of impropriety.”
A spokesman for the Manhattan federal court, where Liman works, declined to comment.
Tuesday’s unsigned decision came nearly three years after a Wall Street Journal investigation
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