Citi Strikes $23M 'Ice Breaker' Settlement In Libor Action

By Max Stendahl (February 2, 2016, 12:43 PM EST) -- Citigroup has reached a $23 million "ice breaker" settlement in a class action suit alleging it and other banks conspired to fix yen-denominated Libor interest rates, the first deal to be struck in the case, according to a filing in New York federal court.

Citigroup and about 20 other banks are accused of rigging yen Libor, Euroyen Tibor and Euroyen Tibor contracts. Citigroup and its subsidiaries' deals are the first to be struck in the case. (Credit: AP) On Monday, lawyers for a group of investors asked a judge to approve the proposed settlement with Citigroup Inc. and its subsidiaries, as...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!