WFC Wells Fargo and Company

--Seven banks are being sued by the city of Philadelphia, which alleges they colluded to fix the prices of certain municipal bonds, Bloomberg reports Thursday.

--Philadelphia says the banks worked together to raise the interest rates on the bonds, the report said.

--The banks named in the suit were Bank of America Corp. (BAC), Barclays PLC (BCS), Citigroup Inc. (C), Goldman Sachs Group Inc. (GS), JP Morgan Chase & Co. (JPM), RBC Capital Markets LLC and Wells Fargo & Co. (WFC), the report said.

--A Citigroup spokesman declined comment and the other banks were unavailable to comment, the report said.

Full story: https://www.bloomberg.com/news/articles/2019-02-21/philadelphia-sues-seven-banks-over-collusion-in-muni-pricings

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 21, 2019 13:52 ET (18:52 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.