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Barclays $120M 'Ice-Breaker' Libor Class Deal Clears Hurdle

Law360, New York (December 22, 2016, 12:18 PM EST) -- A Manhattan federal judge on Wednesday preliminarily approved a $120 million deal between Barclays Bank plc and investors who purchased its financial products tied to the London Interbank Offered Rate, noting that the settlement contains a vow from the British banking giant to assist class members in their pursuit of other alleged rate manipulators.

U.S. District Judge Naomi Reice Buchwald called the November 2015 settlement the product of two years of negotiations in the massive litigation pitting banks against large-scale investor-plaintiffs and others exposed to trillions...
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