Schwab Lodges Libor-Rigging Suit Against BofA, Barclays

Law360, New York (April 30, 2013, 5:27 PM EDT) -- Charles Schwab Corp. on Monday sued Bank of America Corp., Barclays PLC and other major banks in California state court, alleging they rigged the Libor, a move that follows the gutting of a federal antitrust and racketeering suit involving similar claims.

In a 125-page complaint that details an alleged conspiracy to manipulate the London interbank offered rate, Charles Schwab and a number of its business units accused a spate of banks of common law fraud and unjust enrichment, unfair business practices in violation of California state...
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