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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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.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

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