LIBOR manipulation
Misled by rigged LIBOR interest rates?
Law Firm: Hausfeld LLP
Est. Recovery
$590,000,000
About this case
2011 disclosures revealed major banks conspired to manipulate USD LIBOR during the financial crisis, causing purchasers of USD LIBOR‑indexed instruments to receive artificially low interest and yielding hundreds of millions or more in ill‑gotten gains. Hausfeld is Lead Counsel for a class of purchasers who transacted directly with Credit Suisse, Bank of America, JP Morgan, HSBC, Barclays, Lloyds, WestLB, Westdeutsche Immobilienbank, UBS, The Royal Bank of Scotland, Deutsche Bank, Citibank, Coöperatieve Centrale Raiffeisen Boerenleenbank (Rabobank), The Norinchukin Bank, The Bank of Tokyo‑Mitsubishi UFJ Ltd., HBOS, and the Royal Bank of Canada. Following investigations by at least ten regulators worldwide (including the U.S., Switzerland, Japan, U.K., Canada, the EU, and Singapore) that recovered over $8.5 billion in fines, Hausfeld has secured court‑approved settlements totaling $590 million—Barclays $120M, Citi $130M, Deutsche Bank $240M, HSBC $100M—and litigation continues against other defendants.
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