27 Nov 2018
Citigroup Inc and JPMorgan Chase & Co will pay $182.5 million to settle U.S. investor litigation claiming they violated antitrust law by conspiring with other banks to rig a key European interest rate benchmark.
A preliminary settlement addressing the banks’ alleged manipulation of the European Interbank Offered Rate, or Euribor, was filed on Wednesday night with the U.S. District Court in Manhattan, and requires a judge’s approval.
Five banks have reached $491.5 million of settlements in the case, including earlier settlements of $170 million by Deutsche Bank AG, $94 million by Barclays Plc and $45 million by HSBC Holdings Plc.
– By Jonathan Stempel, Reuters, 23 November 2018.
Link to Reuters.
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