Reuters-
A U.S. appeals court on Monday revived private antitrust litigation accusing major banks of conspiring to manipulate the Libor benchmark interest rate, in a big setback for their defense against investors’ claims of market-rigging.
The 2nd U.S. Circuit Court of Appeals in Manhattan reversed a lower court judge’s dismissal of investors’ antitrust claims against 16 banks, including Deutsche Bank AG, UBS AG, Bank of America Corp and JPMorgan Chase & Co because she found no showing of anticompetitive harm.
“Appellants sustained their burden of showing injury by alleging that they paid artificially fixed higher prices,” Circuit Judge Dennis Jacobs wrote for a three-judge appeals court panel.
