While some of the world’s largest banks have already paid more than $6 billion in fines for their alleged roles in the LIBOR manipulation scandal, reports say the US Federal Deposit Insurance Corp has filed a lawsuit against 16 of the largest lenders over the allegations.
Reports say the FDIC filed its suit against the banks, which include UBS and Barclays, for allegedly cheating other now-defunct banks out of money by LIBOR benchmark manipulation. The lawsuit is yet another headache for the banks who are still tied up in legal cases with EU authorities and other US authorities.
Investors have similarly sued the banks over claims they lost money due to the alleged collusion.
The FDIC declined to comment on the matter.
Full Content: Businessworld
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Hess Shareholders Approve $53 Billion Merger with Chevron
May 28, 2024 by
CPI
EU Regulators Engage with Telegram as App Nears Critical Usage Threshold
May 28, 2024 by
CPI
EEX Offers Remedies to Address EU Antitrust Concerns Over Nasdaq Deal
May 28, 2024 by
CPI
BRG Expands European Competition Practice with New Expert Team in Brussels
May 28, 2024 by
CPI
UK Law Empowers Regulators to Fine Big Tech Without Court Approval
May 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI