Investment Funds’ Yen LIBOR Manipulation Suit Sent Bank To District Court

Mealey's (April 2, 2020, 1:56 PM EDT) -- NEW YORK — A group of investment funds has sufficiently shown that a scheme by several financial institutions to manipulate the “Yen LIBOR” and “Euroyen TIBOR” interest rates caused the investment funds to suffer an economic injury, which is sufficient for Article III standing “at the motion to dismiss stage,” a Second Circuit U.S. Court of Appeals panel ruled April 1 (Sonterra Capital Master Fund Ltd., et al. v. UBS AG, et al., No. 17-944, 2nd Cir.)....