Business Standard News-
The preliminary settlements, totalling $77 million for Deutsche Bank
and $71 million for JPMorgan, were detailed in filings late Friday in the US District Court in Manhattan, and require a judge’s approval. They followed similar settlements last year with Citigroup and HSBC Holdings totalling $23 million and $35 million, respectively.
Investors including the California State Teachers’ Retirement System and J Kyle Bass’ hedge fund Hayman Capital Management had accused more than 20 banks of conspiring to rig yen Libor, Euroyen Tibor and Euroyen Tibor futures contracts to benefit their own positions from 2006 through at least 2010.
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