Bank subpoenas hit gaming stocks

The US Justice Department has issued subpoenas to four major investment banks demanding information on the activities of the online gaming industry. That’s caused the shares of several gaming companies to fall sharply on the London stock exchange, the New York Times reports.

The banks all took part in initial public offerings of UK-based gaming firms. HSBC, Credit Suisse, Deutsche Bank and Dresdner Kleinwort said yesterday that they have received notices from the the Justice Department’s New York office.