A PYMNTS Company

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

By  |  March 2, 2012
Judge denies investor document request, citing effect on DOJ Libor probe

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.”

    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.

    Source: Bloomberg

     

    Related content: Why and How to Use Empirical Screens in Antitrust Compliance (Rosa Abrantes-Metz, Global Economics Group, NYU Stern School of Business)