$5M SocGen Deal Puts Libor Investors Up To $187M

Law360 (January 24, 2020, 4:41 PM EST) -- One of the investor classes pursuing the massive Libor-rigging litigation has sought preliminary approval for settlement with Societe Generale SA and in so doing disclosed a payout of just over $5 million in New York federal court that will put the class up to $187 million worth of settlements with major banks.

The so-called exchange-based plaintiffs said Thursday that their deal, which includes no admission of liability by the bank, covers all investors who dealt in Eurodollars futures and/or options from January 2003 through May 2011. The settlement, they said, bears all the hallmarks of fairness and adequate class representation to warrant preliminary...

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