Lawsuits for investors who purchased or sold Libor-related financial instruments over alleged Libor Rate Fixing was filed and those investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/17/2012 -- Several lawsuits were filed in the U.S. District Court of the Southern District of New York against big banks over allegations of manipulation of the Libor rates.
Investors who purchased or sold Libor-related financial instruments from January 1, 2006 through December 31, 2010, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The lawsuits follow investigations in the United States, Europe and Japan, who are examining more than a dozen big banks over suspected rigging of the Libor-Rate (London Interbank Offered Rate).
Earlier in July 2012, an American investor also 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.
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.
Some sources exstimate the potential combined overall damages, including fines, could exceed $40billion.
Prosecutors in New York and Connecticut recently announced that they are investigating whether their states incurred losses as a result of the alleged interest-rate manipulation by banks.
Those who purchased or sold Libor-related financial instruments from January 1, 2006 through December 31, 2010, have certain options and should contact the Shareholders Foundation.4.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego