Goldman Sachs to settle U.S. rate-rigging lawsuit for $56.5 mln

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Goldman Sachs to settle U.S. rate-rigging lawsuit for $56.5 mln

Goldman Sachs to settle U.S. rate-rigging lawsuit for $56.5 mln

Reuters-

Goldman Sachs Group Inc has agreed to pay $56.5 million to resolve a U.S. class action lawsuit accusing it and other banks of rigging an interest rate benchmark used in the $553 trillion derivatives market.

The proposed settlement was disclosed in papers filed in federal court in Manhattan on Friday. It came after seven other banks agreed in May to pay a combined $324 million to resolve the litigation.

As part of the deal, Goldman has also agreed to provide lawyers for the plaintiffs evidence including transaction data, documents and witness interviews, which could be used in litigations against the remaining banks, the court papers said.

[REUTERS]

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