I came across a very informative post by Richard Wolfram, Esq. about antitrust standing the LIBOR civil damages litigation. I thought it would be of interest to Cartel Capers readers, in case you haven’t seen it elsewhere. Mr. Wolfram kindly agreed to let me repost this.
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In re LIBOR: ‘More Light, Please!’—Questions and Observations As the Decision Dismissing Antitrust Claims for Lack of Antitrust Injury Now Faces Appellate Review
Posted: 28 Jan 2015 10:01 AM PST
by Richard Wolfram, Esq.
(An in-depth article on In re LIBOR and antitrust injury is available here under this title. The following is a preview of my article).
(N.B.: In a coincidence of timing, on Jan. 28, 2015, the date of this posting and publication of the linked article, Judge Lorna Schofield of the federal district court for the Southern District of New York, in a case alleging a conspiracy to manipulate the benchmark rates in the $5.3 trillion/day foreign exchange market, denied the defendants’ motions to dismiss and expressly rejected the test used by the court in In re LIBOR for determining antitrust injury, discussed below. In re Foreign Exchange Benchmark Rates Antitrust Litigation (S.D.N.Y. 1/28/15).)