Deals
Investment Funds Allege Banks Conspired to Manipulate Libor
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Three European asset management firms accused banks including Bank of America Corp., JPMorgan Chase & Co., HSBC Holdings Plc, Barclays Bank Plc, Citibank NA and Credit Suisse Group AG of conspiring to manipulate the London interbank offered rate.
The banks sold Libor-based futures, options, swaps and derivative instruments “at artificial prices that defendants caused,” harming investors, FTC Capital GmbH of Vienna, FTC Futures Fund SICAV of Luxembourg and FTC Futures Fund PCC Ltd. of Gibraltar said in an April 15 complaint in New York federal court.