Investors Float Fixes To 'Problematic' Libor Deal Distribution

Law360 (August 13, 2019, 2:14 PM EDT) -- Investors who've secured nearly $182 million in settlements with big banks over allegations of Libor-rigging told a New York federal judge on Monday that their reworked distribution plan fixes problems the judge previously identified.

U.S. District Judge Naomi Reice Buchwald said in April that she found the investors' proposed distribution to be based on a "flawed and inadmissible" expert analysis and "problematic at best," suggesting that the class instead disperse the funds based on investors' net losses.

The class is now seeking approval for a plan that would recoup investors' net losses while also providing compensation to claimants who had a...

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