Bondholders Dismissed From Bank Libor Conspiracy MDL

Law360, Fort Wayne (December 20, 2016, 5:37 PM EST) -- A New York federal judge Tuesday dismissed a class of bondholders from multidistrict litigation accusing big banks of rigging the London Interbank Offered Rate, saying their alleged antitrust injuries were not caused by the banks.

U.S. District Judge Naomi Reice Buchwald also trimmed other claims from the MDL on jurisdictional grounds, saying the plaintiffs had not shown that the alleged conspiracy took place in or was directed at the U.S.

Judge Buchwald determined that some of the other allegations survived the banks’ motion to dismiss, including some claims from exchange-based and over-the-counter plaintiffs.

The class of bondholders, however, did not directly...

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