Investor To Ask 2nd Circ. To Revive Benchmark-Rigging Suit

Law360 (October 19, 2020, 9:39 PM EDT) -- An investor has let a New York federal court know he plans to appeal to the Second Circuit an August ruling that squashed his suit against numerous major banks for allegedly plotting to fix interbank exchange rates, including one tied to the Japanese yen.

Jeffrey Laydon filed a notice of appeal in in federal court Friday, but the brief filing does not include legal arguments for the appeal. As named plaintiff he hopes to represent a putative class of investors who allegedly lost out because the banks fixed rates for the London Interbank Offered Rate for Japanese Yen, a benchmark interest...

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