Barclays Wins Summary Judgment in USD LIBOR Antitrust Litigation

"Barclays Bank PLC has won a significant legal victory in a long-standing multidistrict litigation concerning U.S. dollar LIBOR, as Judge Naomi Buchwald of the U.S. District Court for the Southern District of New York granted summary judgment in favor of Barclays and other bank defendants. The judge ruled that there was insufficient evidence to support claims of a price-fixing conspiracy among banks to manipulate LIBOR rates. This decision, which also excluded the plaintiffs' evidence of alleged manipulation, marks a key development in a case that began in 2007 during the financial crisis and involved numerous individual and class action lawsuits."