Will U.C. California Lawsuit Punish Major Banks?

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

source: http://www.flickr.com/photos/alainpicard/

The Regents of the University of California have joined the row of people looking to punish major banks for manipulating the London Interbank Offered Rate.

The Regents filed an antitrust complaint in federal court, accusing the banks of fraud, deceit, and unjust enrichment and are seeking unspecified damages.

According to the complaint, “The defendant Libor banks in this case engaged in illegal and improper conduct and engaged in a criminal conspiracy that caused harm to public entities and hundreds of millions of people around the world.”

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business