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Judge denies investor document request, citing effect on DOJ Libor probe

By  |  March 2, 2012

U.S. District Judge Naomi Reice Buchwald has denied a request for documents made by investors suing companies for manipulating Libor by understating their borrowing costs to the British Bankers’ Association. In reaching her decision, Judge Buchwald considered the ongoing DOJ investigation of Libor. According to Bloomberg, she reasoned that granting the requestion would “inhibit the fullest response to the government requests for information.” Furthermore, Judge Buchwald could not overlook the fact that “[i]f the government finds wrongdoing, the plaintiffs will get an enormous litigation benefit.”

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    Source: Bloomberg

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