A PYMNTS Company

In Re Libor: More Light, Please! — Questions and Observations as the Decision Dismissing Antitrust Claims for Lack of Antitrust Injury Now Faces Appellate Review

By  |  March 26, 2015

Posted by Social Science Research Network

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    In Re Libor: More Light, Please! — Questions and Observations as the Decision Dismissing Antitrust Claims for Lack of Antitrust Injury Now Faces Appellate Review–  Richard Wolfram, Esq.

    Abstract: A key ruling by a New York federal district court almost two years ago, in In re LIBOR-Based Financial Instruments Antitrust Litigation, can now finally proceed on appeal, and the implications are significant both in the law and for a number of financial markets dependent on benchmark mechanisms.

    The district court ruled in March 2013 that alleged collusion by the defendant banks in setting a global interest rate benchmark – the London Interbank Offered Rate, or LIBOR – may have violated antitrust law but did not cause antitrust injury; it therefore dismissed antitrust claims filed by various investors, who claimed injury from the alleged concerted suppression of LIBOR, on the grounds that they lacked standing.