Judge: Banks must face suit over interest-rate manipulation

|By:, SA News Editor

A judge has ruled that a group of banks that includes JP Morgan (JPM), Citigroup (C), Barclays (BCS) and UBS (UBS) must face a class-action lawsuit that they rigged yen-denominated benchmark interest rates from 2006-2010.

However, District Judge George Daniels dismissed related claims against the banks for antitrust violations and unjust enrichment.

UBS, Barclays and RBS have already reached settlements with authorities for the manipulation of such rates.