Daily Archives: June 18, 2016

Investors Seek Nod For $35M HSBC Deal In Yen Libor Suit

Law360, Los Angeles (June 17, 2016, 8:21 PM ET) — HSBC struck a $35 million settlement with investors in a proposed class action alleging the bank fixed yen-denominated Libor rates, in the second monetary deal reached this year with a major bank in the New York federal action over the alleged rate manipulation.

The proposed settlement with HSBC Holdings PLC and HSBC Bank PLC comes two months after a district judge signed off on the investors’ $23 million “ice breaker” settlement with Citigroup Inc. and nonmonetary settlement with brokerage firm RP Martin.

In motion papers Friday,…

Source: Law360