A Closer Look at the Libor Scandal

The Libor scandal first began to unfold more than four years ago, but the with dramatic announcements in late June of the imposition of fines and penalties of over $450 million against Barclays PLC, the scandal has shifted into a higher gear and is now the leading story in financial papers around the...

New York Bank Sues Libor-Setting Banks for Fraud

In the latest lawsuit to arise from the rapidly evolving Libor scandal, a New York bank has filed a purported class action in the Southern District of New York, seeking to recover damages from the U.S. Dollar Libor rate setting banks for fraud. The complaint, which was filed July 25, 2012 and which can...

Another Libor-Scandal Antitrust Lawsuit Filed, This One on Behalf of Derivatives Investors

At the risk of sounding repetitive, I must report here that there has been yet another Libor-scandal related lawsuit filed in the Southern District of New York. The latest lawsuit, filed on July 30, 2012, purports to be filed on behalf of a class of investors who bought U.S. dollar Libor-based derivatives...

Motion to Dismiss Granted in Barclays LIBOR-Scandal Securities Suit

In a May 13, 2013 order ( here ), Southern District of New York Judge Shira Scheindlin granted defendants' motion to dismiss the LIBOR-scandal related securities suit that had been filed against Barclays and two of its former executives following the company's entry into a massive LIBOR-related...

Second Circuit Reinstates Barclays Libor Scandal Securities Suit

While claimants continue to file private civil actions seeking to recover damages they claim to have sustained as a result of the Libor manipulation scandal, the fact is that at least up to this point, the plaintiffs have not fared particularly well in the Libor-related civil litigation. As noted...