San Diego Association of Governments & University of California Sue Banks for LIBOR Manipulation

The lawsuits filed in U.S. District Courts for the Northern and Southern Districts of California allege the banks engaged in a global conspiracy to manipulate LIBOR in violation of the federal Sherman and Clayton antitrust acts, 15 U.S.C. 1 et seq., as well as in violation of California antitrust laws, in particular the Cartwright Act, Cal. Bus. & Prof. Code 16720 et seq.

The cases are: