Goldman Sachs Group Inc., UBS AG and Citigroup Inc. defeated an effort to revive lawsuits claiming they violated antitrust laws by abandoning the market for auction-rate securities, Bloomberg News reported yesterday. The U.S. Court of Appeals in New York yesterday upheld a lower-court ruling that dismissed complaints brought on behalf of issuers of the securities and investors. The market was facing an "inevitable death spiral" and the banks' exit from the market was rational, the court said.
