BofA, Foreign Banks Look To Ditch Rate-Rigging Claims Again

Law360 (October 13, 2020, 11:22 PM EDT) -- Bank of America and a set of foreign banking giants are asking a New York federal judge to again dismiss claims that they conspired to rig the London Interbank Offered Rate for the Japanese yen.

The major banks filed motions on Friday to dismiss a lawsuit revived earlier this year when the Second Circuit ruled that investor plaintiffs convincingly linked their financial losses to alleged market manipulation by more than a dozen international banks.

According to the banks, the appellate panel never reached an issue that became apparent after the suit was first dismissed in 2017 — that one of the...

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