Barclays to pay $20 million to settle U.S. class action over Libor

Barclays Plc (>> Barclays PLC) has agreed to pay nearly $20 million (12.43 million pounds) to resolve a U.S. class action lawsuit accusing the British bank of manipulating the Libor benchmark interest rate, according to court papers filed Wednesday.

The proposed deal, disclosed in court papers filed in federal court in New York, is the first such settlement of private litigation in the United States against various banks accused of manipulating the London interbank offered rate.

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