Overview

Plaintiffs allege that prominent financial institutions manipulated the London InterBank Offered Rate, or LIBOR, which is the primary benchmark for determining short term interest rates for financial instruments worldwide. The Defendant banks, members of the U.S. Dollar LIBOR panel during the Class Period (August 2007 through May 2010), were motivated to suppress LIBOR for two reasons. First, since the interest rate a bank pays on its debt is perceived as a sign of the bank’s risk, the Defendants understated their borrowing costs (suppressing LIBOR) to appear more financially secure. Second, artificially suppressing LIBOR allowed Defendants to pay lower interest rates on LIBOR-based financial instruments that Defendants sold to investors, including the Baltimore Plaintiffs, during the Class Period.

Class

For OTC Claimants: All persons or entities, other than Defendants and their employees, affiliates, parents, and subsidiaries, that purchased in the United States, directly from a Defendant, a U.S. Dollar LIBOR-Based Instrument and that owned the U.S. Dollar LIBOR-Based Instrument any time during the period August 2007 through May 2010.

Defendants
  • Credit Suisse Group AG
  • Credit Suisse International
  • Credit Suisse (USA) Inc.
  • Bank of America Corporation
  • Bank of America, N.A.
  • JPMorgan Chase & Co.
  • JPMorgan Chase Bank, NA
  • HSBC Holdings PLC
  • HSBC Bank PLC
  • Barclays Bank plc
  • Lloyds Banking Group PLC
  • WestLB AG
  • Westdeutsche Immobilienbank AG
  • UBS AG
  • The Royal Bank of Scotland Group PLC

 

  • Citizens Bank of Massachusetts a/k/a RBS Citizens Bank N.A.
  • Deutsche Bank AG
  • Citibank NA; Citigroup Inc.
  • Coöperatieve Centrale Raiffeisen Boerenleenbank B.A.
  • The Norinchukin Bank
  • The Bank of Tokyo-Mitsubishi UFJ, Ltd
  • HBOS PLC
  • Société Générale S.A.
  • Royal Bank of Canada
  • And any other Person or Persons who are named as defendants in the OTC Action
Partial Settlements
​$130,000,000
​Citigroup ​$130,000,000
​Barclays Bank Earlier Settlement​$120,000,000

Filing Deadline: Contact SRG​  

To learn more about this settlement and how SRG can help you in the recovery process, please contact us:​​

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​​​​​Settlement Recovery Group, LLC (“SRG”) is not the official claims administrator, class counsel or any party in the case. SRG is a third party claims filing service that can be hired to file and track claims.​ We specialize in helping companies and small businesses file claims to obtain their fair share of settlement money from class action lawsuits once a settlement has been reached. Our services are voluntary and are not required to file a claim; claimants may file a no-cost claim on their own. This summary is for informational purposes only and is based on SRG’s review of publicly available case documents. Official information can be found on the case website and on the court docket. This summary is not and should not be construed as legal, tax, or other professional advice.

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