JPMorgan Chase Strikes ‘Ice Breaker’ Settlement In Franc Libor Action

[kreslik.news]

JPMorgan Chase & Co. has reached a $22 million “ice breaker” settlement in a class action suit alleging it and other banks conspired to fix Swiss franc-denominated Libor interest rates, according to a filing in New York federal court.

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As the first deal to be struck in the case, the plaintiffs hope it will serve as a potential catalyst for other banks to settle or at least strengthens their position in the bush through verdicts against the remaining defendants.

On Wednesday, lawyers for a group of investors asked ... (read more)