Investor Targets BofA, Barclays, 14 More Over Rigged Libor

Law360, New York (July 31, 2012, 1:25 PM EDT) -- Large banks including Bank of America Corp. and Barclays PLC were hit Monday with another putative class action over alleged manipulation of the Libor, this time by an investor who bought a derivative tied to the benchmark rate.

Investor 33-35 Green Pond Road Associates LLC claims in New York federal court that it was damaged when it bought an interest-rate swap from TD Bank NA, in which the floating rate was tied to the Libor. The plaintiff, which names as defendants 16 banks including Citibank NA,...
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