Citigroup Says DOJ Won’t Bring Case Over Libor Rigging

Law360, New York (May 11, 2015, 10:26 AM ET) — The U.S. Department of Justice has elected not to bring a case against Citigroup Inc. in its wide-ranging investigation into alleged rigging of the London Interbank Offered Rate, the bank said in a Monday securities filing.

The New York-based bank had earlier said that the Justice Department was looking into the activities of its traders, and Citigroup’s Citibank N.A. unit was mentioned as having had employees engaged in Libor manipulation with colleagues from Deutsche Bank AG in that bank’s settlement last month.

Source: Law360

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