SETTLED
OTC USD Libor Settlement
FILING DEADLINES:
01/02/2018 ($120 Barclays)
03/29/2018 ($130 Million Citi)
12/20/2018 ($240 Million Deutsche, $100 Million HSBC)
TBD (Non-Settling Defendants)

CASE NUMBER:
11-md-2262 U.S. District Court for the Southern District of New York
CLASS PERIOD:
August 2007 - May 2010
TOTAL SETTLEMENT FUND:
$590,000,000.00
SETTLING DEFENDANTS
Barclays, HSBC, Deutsche Bank, Citi
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Non-Settling DefendantsBank of America, JP Morgan Chase |
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ADDITIONAL LISTED PANEL BANKS:Citizens, Bank of Tokyo-Mitsubishi, UBS, RBS, Société Générale, HBOS, Lloyds, RBC, Norinchukin, Credit Suisse, West LB, and Rabobank |
ELIGIBLE CLASS
You are included in the Settlement if you directly purchased or owned U.S. Dollar LIBOR based instruments during the class period directly from named defendants and you were either domiciled in the United States or its territories or, if domiciled outside the United States or its territories transacted within the United States.
ELIGIBLE INSTRUMENTS
Asset swaps, collateralized debt obligations, credit default swaps, forward rate agreements, inflation swaps, interest rate swaps, total return swaps, options, and floating rate notes.
Preliminary Allegations
Banks on the U.S. Dollar panel (and their affiliates) around the world were sued by a group of their counterparties (“Plaintiffs”) who claim that the banks manipulated the U.S. Dollar LIBOR rate during the financial crisis, artificially lowering the rate for their own benefit. Plaintiffs claim that Citibank and other banks manipulated the U.S. Dollar LIBOR rate, and that, as a result, purchasers did not receive as much interest payments for their U.S. Dollar LIBOR-based instruments from the banks as they should have.
Case Summary
This litigation has been consolidated within In re LIBOR-Based Financial Instruments Antitrust Litigation, MDL No. 2262, and this Settlement relates to an action referred to as the “OTC Action” because it involves Plaintiffs who entered into over-the-counter (“OTC”) financial derivative and non-derivative instruments directly with Barclays or the Non-Settling Defendants.
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Case UpdatesContact your Battea Customer Service Representative directly. |
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Next StepsContact your Battea Customer Service Representative directly. |
BRIEF COMPANY PROFILE
Country: United States
Website: https://usdollarliborsettlement.com
