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At least part of the probe is being handled by the U.S. Department of Justice’s (DOJ) antitrust division, the report said, citing people familiar with the matter. (https://
Archegos, a family office run by former Tiger Asia manager Hwang, defaulted on margin calls in March, leaving banks nursing heavy losses and sparking a fire sale of shares including ViacomCBS (NASDAQ:VIAC) and Discovery (NASDAQ:DISCA) Inc.
The blowup cost big global banks including Credit Suisse (SIX:CSGN), Nomura Holdings (NYSE:NMR), Morgan Stanley (NYSE:MS) and Deutsche Bank (DE:DBKGn) more than $10 billion in losses.
The banks declined to comment, while the DOJ did not immediately respond to a Reuters request for comment.
