OAKLAND - Oakland filed a federal class action lawsuit yesterday against 37 banks, brokers, insurance companies, and investment advisory firms, accusing them of violating antitrust law with anticompetitive price-fixing of municipal derivatives and guaranteed investment contracts.

The charges in the city's lawsuit, announced by John Russo, the city attorney, parallel those made in at least four other lawsuits filed by issuers in federal courts in New York and the District of Columbia.

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