U.S. District Judge Sidney Stein of the Southern District of New York granted Monday motions to dismiss claims that some of the world’s biggest banks manipulated the London Interbank Offered Rate pegged to the Swiss Franc over a 10-year period ending in 2011.
In Sonterra Capital Master Fund v. Credit Suisse Group AG,15-cv-00871, Credit Suisse, the Royal Bank of Scotland, UBS and others were accused by investors at Sonterra Capital Master Fund and others as part of a class suit to have, among other allegations, manipulated the international trading rate to help their own trading positions.
