Credit Suisse, Goldman Sachs, and Morgan Stanley plan to pay a $120 million settlement to end Archegos conflict of interest allegations.

Morgan Stanley, Goldman Sachs, and Wells Fargo have agreed to pay a settlement of $120 million to end allegations of conflicts of interest in the selling of ViacomCBS shares during the 2021 family office investment firm Archegos Capital Management's meltdown. The original plaintiffs representing former ViacomCBS shareholders have agreed to the settlement arrangement, but the agreement is subject to approval by a US court judge. Archegos collapsed in March 2021, during which the three banks sold ViacomCBS shares in their portfolios. The original plaintiffs representing a group of ViacomCBS shareholders accused the three banks of failing to disclose that they were counterparties to Archegos's trades, raising concerns of conflicts of interest in selling the shares.