Sibor Price-Fixing Suit, Related $21M Settlement Tossed
Law360 (July 26, 2019, 8:08 PM EDT) -- A New York federal court on Friday dismissed a suit accusing a slew of financial institutions of conspiring to fix interbank rates in the Singapore market, finding that the company behind the suit did not have the right to bring such claims and that a related $21 million settlement should be tossed.
U.S. District Judge Alvin K. Hellerstein on Friday ruled that Fund Liquidation Holdings LLC cannot pursue claims against the financial institutions because when FLH signed an asset purchase agreement with two defunct hedge funds, they were only assigned the right to pursue securities-related disputes and not antitrust claims.
The suit originally filed by the defunct hedge funds, FrontPoint Asian...
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