Investors To Retool 'Problematic' Plan For $182M Libor Deals

Law360 (May 28, 2019, 7:55 PM EDT) -- Investors who cut nearly $182 million in deals with big banks in the massive Libor-rigging litigation promised a New York federal judge they will rework their distribution plan after the judge flagged the traders' proposal as "problematic at best."

U.S. District Judge Naomi Reice Buchwald challenged the exchange-based traders' plan for divvying the settlement purse last month, questioning why the class relied on a "flawed and inadmissible" expert analysis to prop up the distribution method slotted for the vast majority of the funds.

The class signaled Friday that it heard the judge's concerns loud and clear, as it pledged in a letter...

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