Articles Tagged with Euroyen Tibor

HSBC Holdings Plc (HSBC) will pay $35M to resolve an antitrust lawsuit accusing the bank of Euroyen Tibor and Yen Libor rigging. The securities case, brought by Sonterra Capital Master Fund, Hayman Capital Management, California State Teachers’ Retirement System, lead plaintiff Jeffrey Laydon, and other institutional investors, accused HSBC and other banks of manipulating benchmark rates over several years.
According to the investor lawsuit, Laydon sustained losses in the thousands of dollars in 2007 when shorting the Euroyen Tokyo Interbank Offered Rate (Euroyen Tibor).

As part of the settlement, HSBC will provide attorney proffers detailing facts that the bank uncovered during its own probes into Euroyen Tibor and Euroyen Libor manipulation, witness statements made by its employees, specific documents that it has given to the Federal Reserve Board of New York and regulators, and other information.

A judge has to approve the deal.

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