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LIBOR-Scandal Litigation: After Federal Court Dismissal, Schwab Pursues State Court Suit

When Southern District of New York Judge Naomi Reice Buchwald entered her order in the consolidated LIBOR litigation on March 29, 2013, she dismissed the plaintiffs' antitrust and RICO claims against the LIBOR rate-setting banks, and she also declined to exercise supplemental jurisdiction over...

Rabobank To Pay $1 Billion to Settle Allegations That It Manipulated Libor

WASHINGTON, D.C. — (Mealey’s) Dutch bank Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank) has agreed to pay more than $1 billion in civil and criminal penalties to settle allegations that it manipulated the London InterBank Offered Rate (Libor), the U.S. Department of...

FDIC Files Libor Manipulation Lawsuit for Alleged Harm to Failed Banks

On March 14, 2014, In the latest development in the long-running saga of the Libor scandal , the FDIC in its capacity as receiver of 38 banking institutions that failed between 2008 and 2011, has filed a massive new lawsuit in the Southern District of New York against the U.S. dollar Libor rate-setting...

Lloyds to Pay $370M to Settle Libor Manipulation Claims in U.S., U.K.

WASHINGTON, D.C. — (Mealey’s) Lloyds Banking Group plc has agreed to pay a total of $370 million to settle claims with U.S. and British agencies alleging that Lloyds violated various laws by manipulating the London Interbank Offered Rate (Libor), according a press release issued by the Department...

U.S. Supreme Court: Order Dismissing LIBOR Suit Was Appealable

WASHINGTON, D.C. — (Mealey’s) An order dismissing one case alleging manipulation of the U.S. Dollar London Interbank Offered Rate (LIBOR) that had been consolidated with others in a multidistrict litigation triggered the plaintiffs’ right to appeal under Title 28 U.S. Code Section 1291...