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 firstname.lastname@example.org.
FRT has issued the following alerts to FRT Global Group Litigation clients:
- Full Alert: August 29, 2017
U.S. CLAIMS I GLOBAL GROUP LITIGATION I ANTITRUST I LITIGATION MONITORING I BUYOUTS
Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.