Judge finds for Banks, Dismisses Most Claims in Libor Lawsuits

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Judge finds for banks, dismisses most claims in Libor lawsuits

NEW YORK (Reuters) – A judge on Friday dismissed a “substantial portion” of claims facing a number of banks in a barrage of lawsuits accusing them of interest-rate rigging.

U.S. District Judge Naomi Reice Buchwald in Manhattan ruled for the banks, which include Bank of America Corp , JPMorgan Chase & Co and others, of allegedly manipulating the London Interbank Offered Rate, commonly known as Libor.

The judge granted the banks’ motion to dismiss the plaintiffs’ federal antitrust claims and partially dismissed their claims of commodities manipulation. She also dismissed racketeering and state-law claims.

The decision is a significant setback for private plaintiffs, whose lawsuits had been consolidated before the New York judge as part of a multidistrict litigation proceeding.

In a 161-page opinion, Buchwald said she recognized her ruling might be “unexpected,” since several defendants had paid billions of dollars in penalties to government regulatory agencies.

Rest here…

Copy of the Memorandum and Order below…

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4closureFraud.org

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In Re: Libor-Based Financial Instruments Antitrust Litigation

Comments
3 Responses to “Judge finds for Banks, Dismisses Most Claims in Libor Lawsuits”
  1. keepon says:

    JUDGEs like Buchwald certainly take us a long way in establishing our new global identity as a Bananna Republic. No more Honor/Justice here! It’s not been easy transitioning to the 3rd world, but i think we’re almost there.

  2. keepon says:

    “Buchwald said she recognized her ruling might be “unexpected,” since several defendants had paid billions of dollars in penalties to government regulatory agencies.”

    WHAT in he name of God does this judge usually judge- Pillsbury bakeoffs? Yes, judge. These banks have already paid millions and billions in fines around the world. Does this give you any CLUE as to OFF YOU ARE in your decision making process? No antirust, NO commodities MANIPULATION…. NO RICO! Yeh, right judge. Sometimes shit just happens, all cut of the same wholepiece of cloth, around the world. No. No RICO. IMpossible!

    DISgusting!

    You want to know just HOW filthy our judiciary is? Just look @ what this “sack-o’-shit” judge is trying to sell. If ever you need to explain just how low you can go, tell thIS ‘nothing-wrong-here-people. Just move along now’ travesty. Arrogance personified!

  3. patrick ainsworth says:

    When are these guys going to jail? Why does Holder not prosecute and let the same ole illegality go on with impunity?Demand Congress put these people(big banks and servicers) in jail!

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