Burr Alert: LIBOR Manipulation Litigation: Current Litigation and the Changing Landscape
LIBOR, the world's most popular floating-rate index number, has undoubtedly lost reliability in the wake of the 2008 financial crisis. In 2008, news sources began to cast doubt on "the world's most reliable number," and subsequent investigations revealed that contributor banks, in fact, manipulated LIBOR rates. Lawsuits filed by lenders, municipalities, individuals, and a host of other plaintiffs ensued. It remains to be seen what the effect LIBOR manipulation will have on current and future lawsuits as judges across the country continue to rule.
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