FILE PHOTO-A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023.
REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsNEW YORK, Aug 23 (Reuters) - Goldman Sachs (GS.N), JPMorgan Chase (JPM.N), Morgan Stanley (MS.N) and UBS (UBSG.S) have agreed to pay $499 million to settle an antitrust lawsuit by investors who accused them of conspiring to stifle competition in the stock lending market.
They also agreed to cooperate in the investors' case against the final defendant, Bank of America (BAC.N).
Spokespeople for Bank of America and UBS declined to comment.
EquiLend's governance changes include new restrictions on how board members share information, and limits on how many board seats each bank can hold.
Persons:
Denis Balibouse, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Jonathan Stempel, David Gregorio Our
Organizations:
Swiss, UBS, REUTERS, JPMorgan, Investors, Credit Suisse, Bank of America, Spokespeople, U.S . Department, Iowa Public Employees, Bank of America Corp, Court, Southern District of, Thomson
Locations:
Zurich, Switzerland, Manhattan, U.S, Southern District, Southern District of New York, New York