Daily News: April 1, 2013

Banks Win Dismissal of Lawsuits in LIBOR Case


Bloomberg reported that banks including Bank of America and JPMorgan Chase won dismissal of antitrust lawsuits by plaintiffs claiming they were harmed by the rigging of the LIBOR rate.

Bloomberg said that while potential damages were estimated to be in the billions of dollars, the judge ruled the cases must be dismissed because of the inability of litigants to show they were harmed.

To read the Bloomberg story click here.