Deutsche Bank Pays $5 Million to Exit Libor Antitrust Lawsuit

Deutsche Bank AG will pay $5 million to resolve antitrust litigation over its alleged role in a scheme by top global banks to manipulate the Sterling Libor, a key interest benchmark for financial instruments denominated in British pounds, according to federal court filings in Manhattan.

Derivative traders leading the lawsuit sought preliminary approval for the deal from Judge Vernon S. Broderick, who’s presiding over the proposed class action consolidated in the US District Court for the Southern District of New York. The settlement also requires Deutsche Bank to cooperate with the case.

The lawsuit, filed in 2015, is part ...