The U.S. Court of Appeals for the Second Circuit on Friday revived claims made by an umbrella group of Charles Schwab subsidiaries against the banks alleged to have manipulated the benchmark London Interbank Offered Rate to their advantage in the wake of the global financial crisis.
The sprawling litigation being fought out by dozens of claimants before U.S. District Judge Naomi Reice Buchwald of the Southern District of New York saw the so-called Schwab plaintiffs see their federal and California-based claims dismissed.
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