Banks Ask New York Judge to Throw Out Libor Antitrust Claims
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More than a dozen banks including Citigroup Inc. and Bank of America Corp. asked a U.S. judge to dismiss a group of lawsuits in which they are accused of trying to manipulate the London interbank offered rate.
Plaintiffs including the City of Baltimore and New Britain Firefighters’ Benefit Fund sued the banks in 2011, contending they “suppressed” the Libor -- a key metric to set interest rates for trillions of dollars in financial instruments.