June 23, 2011
Finkelstein Thompson Announces Investigation of Bank of America Corp, Barclays Plc, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase & Co, Lloyds Banking Group Plc and UBS AG
The Wall Street Journal has reported that United States regulators are investigating whether some of the world's largest banks colluded to manipulate reported LIBOR rates downward during the recent financial crisis. If true, this manipulation may have caused significant harm to purchasers of financial products tied to LIBOR rates. Those purchasers may be entitled to compensation under the federal antitrust and commodities laws. Finkelstein Thompson is a law firm specializing in representing defrauded investors, and welcomes inquiries from those potentially affected by this conduct.
An April 19, 2011 Financial Times article identifies the following banks as defendants in actions filed based on the government investigation: Bank of America Corp (BAC.N), Barclays Plc (BARC.L), Citigroup Inc (C.N), Credit Suisse Group AG (CSGN.VX), Deutsche Bank AG (DBKGn.DE), HSBC Holdings Plc (HSBA.L), JPMorgan Chase & Co (JPM.N), Lloyds Banking Group Plc (LLOY.L) and UBS AG (UBSN.VX). Affected parties could include those purchasing notes or other types of securities that paid floating or variable rate interest based on reported LIBOR rates from any of these banks.