Deutsche Inks $240M Deal To Settle Libor-Rigging Row
By Bonnie Eslinger (February 27, 2018, 10:22 PM EST) -- A New York federal court was asked Tuesday to give initial approval to a $240 million deal Deutsche Bank AG struck to exit litigation by investors alleging it conspired with other financial giants to manipulate the London Interbank Offer Rate, the third major bank to settle.
In addition to the financial payout, Deutsch also agreed to provide "extensive cooperation" in producing evidence to use against the remaining defendants, which includes Bank of America NA and JP Morgan Chase Bank, according to court filings. The terms are similar to those within other settlements, the motion for approval states: a $120 million agreement...
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