Banks Move To Nix Cases In Libor MDL Over Jurisdiction

By Vin Gurrieri (April 6, 2015, 5:56 PM EDT) -- A group of banks including Bank of America NA, Barclays Bank PLC and UBS AG urged a New York federal court to toss certain class actions in multidistrict litigation regarding allegations the banks colluded to rig the Libor, saying the court lacks jurisdiction. 

In a joint reply brief, the bank defendants — which also included HSBC Holdings PLC and Credit Suisse Group AG — argued that six member cases should be dismissed for lack of personal jurisdiction.

The banks cited a decision last week in the same district — 7 West 57th Street Realty Co., LLC v. Citigroup Inc. — in...

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