Class Action, Multi-district Litigation
Bank of America Corp., Barclays PLC and other major lenders on Thursday sought to head off allegations that they colluded to rig the London Interbank Offered Rate, telling a New York federal judge there's no direct evidence of any conspiracy.
Two groups of investors asked a New York federal judge Friday to let them join an appeal challenging the dismissal of the antitrust claims from multidistrict litigation over Libor manipulation in the wake of the U.S. Supreme Court's decision that the Second Circuit must hear the case.
Barclays PLC has agreed to pay nearly $20 million to settle a class action accusing the British bank of manipulating the Libor benchmark interest rate, according to documents filed in New York federal court Wednesday.
A New York federal judge on Monday allowed investors to add claims that Barclays PLC and Rabobank's day-to-day trading in the Eurodollar futures market manipulated Libor, part of multidistrict litigation against top banks for their role in the rate-rigging scandal.
Plaintiffs in a multidistrict litigation accusing several major banks of rigging the London Interbank Offered Rate urged a New York district court on Thursday to allow Yale University to be added as named plaintiff, arguing that JPMorgan Chase Bank NA's objections to the addition were meritless.
The U.S. Judicial Panel on Multidistrict Litigation on Wednesday reiterated its decision to send Charles Schwab Corp.'s case accusing major banks of manipulating the Libor to New York federal court for inclusion in multidistrict litigation, saying the MDL involves similar questions of fact.
A New York federal judge refused Friday to revive antitrust and commodities law claims against Citibank, JPMorgan Chase & Co. and several other banks accused of manipulating the London interbank benchmark rate.
The U.S. Judicial Panel on Multidistrict Litigation on Thursday sent Freddie Mac's suit against Bank of America Corp. and others over the allegedly suppressed Libor rate to the MDL pending in New York federal court, rebuffing Freddie Mac's objection over the MDL judge's dismissal of Sherman Act claims.
Investors pushed Friday to revive their antitrust claims against Bank of America Corp., JPMorgan Chase & Co. and other top banks accused of rigging the London Interbank Offered Rate as part of multidistrict litigation over the rate scandal.
The judge overseeing multidistrict litigation accusing Bank of America Corp., JPMorgan Chase & Co. and other top banks of rigging the London Interbank Offered Rate agreed Friday to give investors one last chance to make their antitrust allegations stick.