UBS, Royal Bank of Scotland Face Revived Rate-Rigging Claim (2)

A pair of investment funds can proceed with antitrust claims against UBS AG and the Royal Bank of Scotland for allegedly manipulating currency-loan interest rates, the Second Circuit said Friday.

In addition to the Sherman Act claims in the proposed class action over securities linked to the Euro Interbank Offered Rate, or Euribor, some state law claims will also return to the district court for consideration. But the US Court of Appeals for the Second Circuit affirmed the dismissal of racketeering and commodities law claims.

Multiple banks have already settled the US investors’ claims against them in the long-running suit. ...