July 31, 2012

Berkshire Bank Sues Barclays, Citigroup Over Libor

Berkshire Bank, a New York lender with 11 branches, sued 21 banks including Bank of America Corp., Barclays Plc (BARC) and Citigroup Inc. (C) for damages over the alleged manipulation of the London interbank offered rate.

Berkshire sought undisclosed compensation and punitive damages and the right to represent other lenders in a group lawsuit, or class action, in a July 25 filing in federal court in Manhattan. The lender claims in the suit that Libor fraud lowered interest payments it received. Read more.

Bloomberg

Related,
Berkshire Bank Sues 16 Others Over Alleged Libor Manipulation - Huffington Post

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