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Libor Deal Distribution 'Problematic At Best,' NY Judge Says

Law360 (April 17, 2019, 9:39 PM EDT) -- A plan to distribute a $30 million settlement struck to end allegations of Libor rate rigging against JP Morgan and Bank of America leaves questions unanswered and seems "problematic at best," a New York federal judge has said.

U.S. District Judge Naomi Reice Buchwald asked attorneys in a Tuesday letter how their plan for divvying the funds, which relies in part on an expert opinion that had already been struck down, could fly.

"It seems problematic at best to ground a multimillion dollar settlement on an analysis found to be flawed and inadmissible," Judge Buchwald said.

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New York Southern

Nature of Suit

Anti-Trust

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Date Filed

August 12, 2011

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