We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

2 Mitsubishi Banks To Settle Libor Rigging Suit For $30M

Law360 (February 9, 2018, 10:32 PM EST) -- The Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust and Banking Corp. have struck a $30 million deal to escape two investor suits alleging they rigged Libor, according to a memo filed Friday in New York federal court.

Citing other deals, like the $148 million Deutsche Bank AG and JPMorgan Chase & Co. agreed to fork over in August, the two Japanese banks urged the court to preliminarily approve their deal and appoint Lowey Dannenberg PC as class counsel for the settlement.

"The terms of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.