Several Connecticut municipalities and nonprofit organizations are expected to benefit from multimillion-dollar settlements with Natixis Funding Corp. and Societe Generale.
The settlements will resolve allegations that the companies participated in fraudulent and anticompetitive actions in municipal bond derivative transactions with nationwide governments and organizations, according to the attorney general’s office. The Connecticut Clean Water Fund, the city of Stamford, the city of West Haven, the Connecticut Health Education Facilities Authority and the Connecticut Higher Education Supplemental Loan Authority are among the Connecticut those expected to be eligible for restitution.
The companies will pay $29.950 million and $26.750 million respectively as part of a multistate, private-class settlement, of which $53.865 million will go toward the settlement fund. A large portion of the funds will provide restitution to the affected parties. The settlements are the sixth and seventh from a multistate investigation by state and New York attorneys general.




