Citigroup, JPMorgan to pay $182.5 million to settle rate-rigging lawsuit
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.

Count reading this article to your CPD minutes, by signing up to our CPD Wallet

FREE CPD Wallet
No Responses to “Citigroup, JPMorgan to pay $182.5 million to settle rate-rigging lawsuit”

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.