UBS, Lloyds Prevail in Libor Case As 2nd Cir. Affirms Dismissal

UBS Group AG, Royal Bank of Scotland, and several other banks escaped a yearslong lawsuit claiming they manipulated Libor interest rates, after the Second Circuit on Monday affirmed a lower court’s ruling that the plaintiffs failed to allege injury.

The ruling by the US Court of Appeals for the Second Circuit puts to rest claims that the banks conspired to manipulate the Sterling London Interbank Offered Rate in violation of US antitrust law.

At issue is a benchmark that tracks the average competitive interest rate at which leading banks may borrow in pound sterling in London from other ...