Antitrust class-action complaints have been brought against several banks including Bank of America, Barclays, UBS, JPMorgan Chase and Citibank for conspiring to manipulate the London Interbank Offered Rate, or Libor, a key benchmark interest rate that underpins trillions of dollars of loans and swaps.
The suits include complaints from pension funds, individual investors as well as online brokerage firm Charles Schwab. U.S. District Judge Naomi Reice Buchwald consolidated the complaints into two separate class actions for exchange-based and over-the-counter plaintiffs.
Case:
In Re: Libor-Based Financial Instruments Antitrust Litigation 1:11-md-02262-NRB
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