Libor Litigation Must Overcome Significant Obstacles
May 15, 2013, 5:10 PM EDT
Law360, New York (May 15, 2013, 5:10 PM EDT) -- Libor litigation will not go away quickly or quietly. When U.S. District Judge Naomi Reice Buchwald dismissed a consolidated, multidistrict batch of antitrust and racketeering suits in Manhattan earlier this spring, she suggested that plaintiffs seeking to recover from the banking giants at the heart of the interest rate-fixing scandal might have better luck with securities fraud claims.
But those plaintiffs will need to be lucky indeed. Two recent developments — Charles Schwab’s filing of securities claims in California state court, and the dismissal of a...