JPML Sends Charles Schwab Suit To Libor MDL In NY

Law360, Los Angeles (October 3, 2013, 4:25 PM EDT) -- The U.S. Judicial Panel on Multidistrict Litigation on Wednesday reiterated its decision to send Charles Schwab Corp.'s case accusing major banks of manipulating the Libor to New York federal court for inclusion in multidistrict litigation, saying the MDL involves similar questions of fact.

The panel previously held that the Southern District of New York was an appropriate forum for both the MDL and Schwab's suit, which accuses Bank of America Corp., Barclays PLC and others of conspiring to rig the London Interbank Offered Rate, because they...
To view the full article, register now.