US Authorities Fine Société Générale $475 million for Libor Rigging
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US Authorities Fine Société Générale $475 million for Libor Rigging
French bank Société Générale has reached a $475 million settlement in a class action suit alleging that its managers conspired to manipulate a global benchmark interest rate known as Libor, according to a CTFC filing.
The settlement made public on Monday resolves antitrust and other claims against the bank which was pleased to have resolved the agency’s investigations into legacy activities, according to a Société Générale spokesman.
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The indictment states that between May 2010 through mid-2012, certain members of SocGen’s executive management, including the CFO, head of investment banking and ... (read more)
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