Investors Float Fixes To 'Problematic' Libor Deal Distribution
Law360 (August 13, 2019, 2:14 PM EDT) -- Investors who've secured nearly $182 million in settlements with big banks over allegations of Libor-rigging told a New York federal judge on Monday that their reworked distribution plan fixes problems the judge previously identified.
U.S. District Judge Naomi Reice Buchwald said in April that she found the investors' proposed distribution to be based on a "flawed and inadmissible" expert analysis and "problematic at best," suggesting that the class instead disperse the funds based on investors' net losses.
The class is now seeking approval for a plan that would recoup investors' net losses while also providing compensation to claimants who had a...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!