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Banks Fight OTC Class Cert. In Libor-Rigging MDL

Law360, New York (November 6, 2017, 4:44 PM EST) -- Several banks ensnared in multidistrict litigation over allegations they conspired to fix the London Interbank Offered Rate benchmark urged a New York federal judge on Friday to deny a class certification bid from a group of over-the-counter investors, arguing that the new representative shows why no class should be certified.

Banks, including Royal Bank of Canada, JPMorgan Chase & Co. and Bank of America Corp., argued in a supplemental brief on Friday that circumstances surrounding the new named plaintiff, Bucks County Water and Sewer Authority, demonstrate...
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