High Court Libor Appeal Tests Bedrock Of Rate-Fixing Suits

Law360, Fort Wayne (January 13, 2017, 7:02 PM EST) -- The U.S. Supreme Court could decide as early as Tuesday whether it will review allegations of a conspiracy by banks to rig the London Interbank Offered Rate in a case that could test whether financial institutions will be liable for costly antitrust damages in a slew of other rate-fixing actions, experts said.

Bank of America Corp., JPMorgan Chase & Co. and Citibank have asked the justices to review a May decision by the Second Circuit reviving an antitrust lawsuit by investors who claim the banks conspired to manipulate U.S. dollar-based Libor by submitting lowball estimates to rate setters.

Their appeal turns...

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