{"id":5683,"date":"2014-10-14T00:00:00","date_gmt":"2014-10-14T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/10\/barclays_to_pay_20m_to_settle"},"modified":"2022-05-06T11:55:22","modified_gmt":"2022-05-06T16:55:22","slug":"barclays-to-pay-20m-to-settle","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/barclays-to-pay-20m-to-settle\/","title":{"rendered":"Barclays to Pay $20M To Settle Libor Manipulation"},"content":{"rendered":"

Barclays PLC (BARC) has consented to pay $20 million to settle complaints over the manipulation of the London interbank offered rate benchmark. As part of the accord, the bank will cooperate with a group of Eurodollar-futures traders that have filed lawsuits against other banks over Libor manipulation.<\/p>\n

The deal resolves claims by firms and individuals that traded in Eurollar futures contracts and options on exchanges that were Libor based from 1\/1\/05 to 5\/31\/10. Now, a district court judge in Manhattan must approve the settlement.<\/p>\n

This is the first settlement reached in the U.S. antitrust litigation involving investments linked to Libor. In addition to paying the $20 million, Barclays will help traders with their claims against other banks. This will include giving documents and information and other support to the plaintiffs so that they can bolsters their cases.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Barclays PLC (BARC) has consented to pay $20 million to settle complaints over the manipulation of the London interbank offered rate benchmark. As part of the accord, the bank will cooperate with a group of Eurodollar-futures traders that have filed lawsuits against other banks over Libor manipulation. 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