Calif. County Urges New Municipality Class In Libor MDL

Law360, New York (February 22, 2013, 6:03 PM EST) -- A California county pushed Thursday to lead a class of municipalities accusing a slew of major banks of manipulating Libor rates, telling the New York federal judge handling the multidistrict litigation that the four existing classes didn't represent the municipalities' claims.

Riverside County sued Bank of America Corp., Citigroup Inc. and 11 other banks in January on behalf of cities, counties and other municipal entities with 23 states and the District of Columbia whose laws allow indirect purchasers to bring antitrust claims.

Even though the court...
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