BofA, JPMorgan Ditch Most Antitrust Claims In Libor MDL
By Kurt Orzeck
Law360, Los Angeles (March 29, 2013, 8:16 PM ET) -- Bank of America Corp., JPMorgan Chase & Co. and other top banks escaped from most of the antitrust claims in multidistrict litigation over an alleged effort to rig the London Interbank Offered Rate, after a New York federal judge dismissed the allegations Friday.
While U.S. District Judge Naomi Reice Buchwald said some of the consolidated lawsuits' commodity manipulation claims can proceed to trial, she dismissed the suits' racketeering and state law violations. The judge said Charles Schwab Corp. and putative classes comprising buyers and sellers of...