2nd Circ. Revives Sibor Price-Fixing Case

By Sarah Jarvis (March 17, 2021, 10:15 PM EDT) -- A Second Circuit panel on Wednesday revived a proposed class action accusing a slew of financial institutions of conspiring to fix interbank rates in the Singapore market, saying even though the initial plaintiff investment funds dissolved before the case began, the real party in interest had standing at all relevant times.

Judge Richard J. Sullivan, writing for the three-judge panel, vacated a district court's dismissal of Fund Liquidation Holdings LLC's claims against some of the world's largest banks — including Bank of America Corp. and Barclays — with the panel finding that FLH satisfied Article III of the U.S. Constitution and...

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