JPMorgan, Citigroup Among Banks Sued in Aussie Rate-Fix Case

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  • U.S. funds are seeking damages from 16 banks, two brokers
  • Some defendants pledge to ‘vigorously’ defend complaint

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JPMorgan Chase & Co., Citigroup Inc. and Morgan Stanley are among 16 banks being sued by funds in the U.S. for allegedly manipulating a key Australian interest rate benchmark to generate hundreds of millions of dollars in illicit profits.

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