Euroyen Case Update (February 2018): Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust and Banking Corp Reaches Settlement in the Euroyen Case > $30 million

By Andrew Laskey, Legal Product Specialist, Financial Recovery Technologies 

On Friday, February 9, 2018 two more banks, The Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust and Banking Corp., agreed to a $30 million settlement for investors who suffered as a result of the banks’ manipulation of the Yen-Libor and Euroyen Tibor benchmark rates and the prices of Euroyen-based derivatives.

The two Mitsubishi banks join four other banks – Citigroup ($23m), HSBC Holdings PLC and HSB Bank PLC ($35m), J.P. Morgan ($77m) and Deutsche Bank ($71m) who had previously settled with affected investors last year. This brings the settlement pool to $236 million, and the total number of settlement of settled bank defendants to five. Outstanding claims remain against 20+ non-settling defendants.

>> To read the Law360 article, click here (may require a subscription).

The Claims Filing Deadline for Euroyen is February 20, 2018. For more details including case background, timing and how to file, contact your FRT representative or email us at learnmore@frtservices.com.

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FRT has issued the following alerts to FRT Global Group Litigation clients:

  • Full Alert: August 29, 2017

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