Schwab, Investors Ask 2nd Circ. To Revive Libor Claims
Law360, New York (May 24, 2019, 7:51 PM EDT) -- Charles Schwab Corp. and investors in financial instruments tied to the London Interbank Offered Rate on Friday urged the Second Circuit to reinstate claims against a slew of banks over their alleged manipulation of the benchmark, arguing they have proper antitrust standing and that the litigation belongs in U.S. federal courts.
Schwab and the other investors are seeking to undo an order by U.S. District Judge Naomi Reice Buchwald that stripped claims from multidistrict litigation against the banks — including Barclays, JPMorgan Chase & Co. and over a dozen others — after finding the plaintiffs had not shown the alleged conspiracy...
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