BofA, Others Say Schwab's Libor Suit Belongs In MDL

Law360, New York (July 11, 2013, 1:20 PM EDT) -- Bank of America Corp., Barclays PLC and other major banks told a California federal judge Wednesday that Charles Schwab Corp.'s case alleging they manipulated the Libor should not be sent to state court because it will likely be rolled into multidistrict litigation.

A group of major financial institutions — including Bank of America, Barclays, J.P. Morgan Chase & Co., Citigroup Inc., and HSBC Holdings PLC, among others — opposed an attempt by Schwab to have its suit remanded to state superior court in California. The banks...
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