2nd Circ. Urged To Refuse Rescue Of Post-Scandal Libor Suit

Law360 (January 8, 2021, 8:23 PM EST) -- Bank of America, UBS and a slew of other major banks have urged the Second Circuit to pull the plug on an appeal seeking to revive litigation accusing them of a sequel Libor-rigging conspiracy, arguing that a new prospective plaintiff shouldn't be allowed to step in for the departing original plaintiffs.

In briefs filed Thursday, defendants from more than a dozen U.S. and foreign financial institution corporate families joined together to push for dismissal of the appeal and oppose an intervention bid by a new party to the proposed antitrust class action, which a New York federal judge threw out last...

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