LIBOR Lawsuits

Lawsuits over LIBOR manipulation are growing, from individual and institutional investors who argue that their bond returns were artificially lowered to cities and hedge funds who argue that their financial contracts cost more because of trader actions. The size of the potential payouts by banks varies dramatically from $7.8 billion to $176 billion. Many of the lawsuits will be class action, especially for individual investors. For example, the lead plaintiff on one case lost about $100 in interest over a 34 month period. As with many lawsuits, it will likely take years in the courts to be resolved.