Freddie Mac Goes After Big Banks For Libor-Rigging

Law360, Los Angeles (March 19, 2013, 7:48 PM EDT) -- Bank of America Corp., Citigroup Inc., Deutsche Bank AG and JPMorgan Chase & Co. are just some of the banks named in a lawsuit filed in Virginia federal court on Thursday by Freddie Mac, which claims the banks cost it millions of dollars by falsely suppressed the Libor rate.

Amid regulators' probes, the lawsuit raises allegations that some of the nation’s top banks collectively manipulated and suppressed Libor, a benchmark rate indexed to trillions of dollars in interest-rate swaps and loans, to hide their institutions’ financial...
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