{"id":6013,"date":"2016-06-24T00:00:00","date_gmt":"2016-06-24T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2016\/06\/financial_firm_settlements_bny"},"modified":"2016-06-24T00:00:00","modified_gmt":"2016-06-24T05:00:00","slug":"financial-firm-settlements-bny","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/financial-firm-settlements-bny\/","title":{"rendered":"Financial Firm Settlements: HSBC Holdings Settles Yen Libor and Euroyen Tibor Rigging Claims for $30M &#038; BNY Mellon to Pay Investors $35M for FX violations"},"content":{"rendered":"<p>\t\t\t\tHSBC 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\u2019 Retirement System, lead plaintiff Jeffrey Laydon, and other institutional investors, accused HSBC and other banks of manipulating benchmark rates over several years.<br \/>\nAccording to the investor lawsuit, Laydon sustained losses in the thousands of dollars in 2007 when shorting the Euroyen Tokyo Interbank Offered Rate (Euroyen Tibor).<\/p>\n<p>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.<\/p>\n<p>A judge has to approve the deal.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/financial-firm-settlements-bny\/#more-6013\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019 Retirement System, lead plaintiff Jeffrey Laydon, and other institutional investors, accused HSBC and other banks of manipulating benchmark [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4020,3752,4027],"tags":[2785,3641,2940,3642],"class_list":["post-6013","post","type-post","status-publish","format-standard","hentry","category-bank-of-new-york-mellon-corp","category-financial-firms","category-libor-scandal","tag-bny-mellon","tag-euroyen-tibor","tag-hsbc-holdings","tag-yen-libor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HSBC Holdings Settles Yen Libor and Euroyen Tibor Rigging Claims for $30M &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"HSBC Holdings Plc have agreed to pay $35M to resolve an antitrust lawsuit accusing the bank of Euroyen Tibor and Yen Libor of rigging.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/financial-firm-settlements-bny\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"HSBC Holdings Settles Yen Libor and Euroyen Tibor Rigging Claims for $30M &#8212; Investor Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"HSBC Holdings Plc have agreed to pay $35M to resolve an antitrust lawsuit accusing the bank of Euroyen Tibor and Yen Libor of rigging.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"HSBC Holdings Settles Yen Libor and Euroyen Tibor Rigging Claims for $30M &#8212; 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