Libor Plaintiffs Blasted By Judge For 'Piggybacking' On DOJ

Law360, New York (March 5, 2013, 7:01 PM EST) -- Plaintiffs' lawyers who complain that large banks manipulated Libor should have filed their lawsuits earlier, a New York federal judge said Tuesday as she considered the banks' request that antitrust and other claims be thrown out.

U.S. District Judge Naomi Reice Buchwald blasted plaintiffs' attorneys for bringing lawsuits after regulators began probing whether major banks had manipulated Libor, a key rate that influences the prices of many financial instruments.

“Your job as plaintiffs' counsel looking for whopping attorneys' fees is not to piggyback on the government,”...
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