Big Banks Dodge Investors' Rate-Rigging Claims

By Melissa Daniels (March 10, 2017, 9:58 PM EST) -- An investor suit accusing around 20 big banks and financial institutions of rigging interbank loan rates was tossed for lack of standing Friday by a New York federal judge who also trimmed claims and defendants in a related action.

In the two investor lawsuits, one filed in 2012 and the other in 2015, HSBC, Citigroup, RP Martin and other banks were accused of rigging the yen-denominated London Interbank Offered Rate, the Euroyen Tokyo Interbank Offered Rate and Euroyen Tibor contracts. Defendants also included Deutsche Bank AG, Barclays and JPMorgan Chase & Co., as well as several Japanese banks and United Kingdom...

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