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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.