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Barclays to pay US$20m to settle Libor suit

Plaintiffs also say that it will help them in their claims against other banks

Published Thu, Oct 9, 2014 · 09:50 PM

New York

BARCLAYS Plc has agreed to pay US$20 million and cooperate with a group of Eurodollar-futures traders suing other banks, to settle litigation over manipulation of the benchmark London interbank offered rate.

The accord, reached on Oct 8, resolves claims by people and firms that traded in Libor-based Eurodollar futures contracts and options on exchanges including the Chicago Mercantile Exchange from Jan 1, 2005, to May 31, 2010.