A lawsuit for U.S. based investors who purchased or sold Euribor-related financial instruments over alleged Euribor Rate Fixing was filed and those investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/09/2012 -- An American investor filed a lawsuit in the U.S. District Court of the Southern District of New York against Barclays PLC (NYSE:BCS), JP Morgan Chase (NYSE:JPM), Citigroup (NYSE:C), Deutsche Bank and a group of other banking defendants over alleged manipulation of the Euro Interbank Offered Rate (“Euribor”).
Those who are U.S.-based investors, who purchased or sold Euribor-related financial instruments from January 1, 2005 through December 31, 2009, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The European Banking Federation is charged with setting the daily Euribor rate, which is in turn used to set prices in a wide range of financial instruments including futures contracts, options, credit default swaps, and collateral debt obligation among others.
The plaintiff alleges that defendants routinely attempted to manipulate the Euribor by making false reports to the European Banking Federation, which negatively impacted any institutional investor that participated in any transaction tied to Euribor. The plaintiff says the defendants violated the Sherman Act and cost investors millions of dollars.
Last month, The Commodity Futures Trading Commission (“CFTC”) announced that Barclays PLC and its subsidiary will pay more than $200 million to settle the allegations. In addition, Barclays has agreed to pay the United States Department of Justice (“DOJ”) a $160 million criminal fine. As part of settlements with U.S. and U.K. regulators, Barclays has admitted rigging the London interbank offered rate, or Libor, as well as the Euribor, its equivalent in euros, as early as 2005.
Those who are U.S.-based investors, who purchased or sold Euribor-related financial instruments from January 1, 2005 through December 31, 2009, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego