BofA, Citi, Others Get Nod for $155 Million Sibor Antitrust Deal

Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., and more than a dozen other top financial institutions exited antitrust litigation over a Singaporean interest benchmark after a federal judge in Manhattan approved settlements worth $155 million.

Judge Alvin K. Hellerstein signed off on class action agreements with 19 banks, nearly a year after the US Supreme Court declined to shut down allegations that they conspired to rig the so-called Sibor. The judge also handed nearly $39 million in legal fees to counsel for the investment funds leading the case.

The separate settlement approval rulings came ...