2nd Circ. OKs Plaintiff Swap, Revives Post-Scandal Libor Suit

Law360, London (April 8, 2021, 2:11 AM BST) -- Bank of America, UBS and a slew of other major banks will have to keep fighting claims that they took part in a sequel Libor-rigging conspiracy after the Second Circuit said Tuesday that another party could tap in after the remaining plaintiffs dropped out.

DYJ Holdings can intervene in the litigation to keep the claims from fizzling out, the Second Circuit declared in a single sentence order, despite arguments from the banks that the entire case is now moot.

Though one of the appellate judges recused himself on the matter, the other two members of the panel were in agreement: the...

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