Southern District Judge Naomi Reice Buchwald, who gutted federal LIBOR class action litigation back in March, ruled Monday that she has jurisdiction over two high-profile investor state lawsuits filed against banks that set the LIBOR interest rate.
January 02, 2014 at 12:00 AM
1 minute read
Southern District Judge Naomi Reice Buchwald (See Profile) in Manhattan ruled Monday that she has jurisdiction over two high-profile investor lawsuits filed against banks that set the LIBOR interest rate.
On first glance, the ruling is a win for the banks, since Buchwald is the judge that gutted LIBOR class action litigation back in March. But one of the plaintiff lawyers, Daniel Brockett of Quinn Emanuel Urquhart & Sullivan, said the banks are far from in the clear.
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