Gelboim v. Credit Suisse Group AG et al. (12-CV-1025) is is a recent international banking antitrust class action filed in the U.S. District Court (S.D.N.Y). A pdf copy of the pleading is available here.
The Plaintiff seeks certification of the class action as a representative plaintiff under Rule 23(b)(3) of the Federal Rules of Civil Procedure. She alleges that the world’s leading international banking institutions, including the Royal Bank of Canada, conspired to manipulate the London Interbank Offer Rate (LIBOR), administered by the British Bankers Association, in violation of the Sherman Antitrust Act, 15 U.S.C.§ 1 “to create the appearance of financial strength and not reveal to the market their true respective financial positions.” (at para. 10).
(H/T Marc Goldstein)
- JPMorgan, HSBC Among 7 Firms Facing Canada Libor-Fixing Probe (businessweek.com)
- Manipulation And Abuse Confirmed In $350 Trillion Market (zerohedge.com)
- Swiss launch competition probe against UBS, CS (mysanantonio.com)
- 12 Banks Are Being Investigated For Allegedly Manipulating Rates Tied To $360 Trillion Worth Of Securities (C, JPM, UBS, CS) (businessinsider.com)
- Difference In Banks’ Reported LIBOR Diverging Again (ritholtz.com)
- Switzerland investigating bank rate-fixing abuses (americablog.com)