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U.S. District Judge Naomi Buchwald yesterday suspended a number of new lawsuits against major...

U.S. District Judge Naomi Buchwald yesterday suspended a number of new lawsuits against major banks over the Libor affair so she can resolve any motions to dismiss on other cases. Banks being sued over Libor include Citigroup (C), BofA (BAC), HSBC (HBC) and UBS (UBS).
Comments (2)
  • MexCom
    , contributor
    Comments (3050) | Send Message
     
    Its amazing how they line up to try to get a piece of the action. The way it works, the lawyer calls the prospective plaintiff to start the ball rolling. "We are going to file a law suit etc. etc. ..... and you have been identified as a party that has been harmed. If you are willing to be named as the plaintiff in a class action we are will in to pay you ...... etc." Its very lucrative and no potential loss to the named plaintiff unless there is a counter suit.

     

    The banks have to vigorously counter this and make an example that these actions must end.
    9 Aug 2012, 05:58 AM Reply Like
  • what do I know
    , contributor
    Comments (1049) | Send Message
     
    the judge has suspended - does it mean that BAC is not involved with LIBOR suits? I am sure that the result won't be significant for the banks.
    9 Aug 2012, 05:42 PM Reply Like
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