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U.S. top court rejects banks over Libor antitrust lawsuits

Reuters - UK Focus

WASHINGTON, Jan 17 (Reuters) - The U.S. Supreme Court on Tuesday allowed private antitrust lawsuits brought by investors including big U.S. cities accusing major banks of conspiring to manipulate the pivotal Libor benchmark interest rate to move forward.

The justices rejected an appeal filed by a group of banks including Bank of America Corp, Deutsche Bank (IOB: 0H7D.IL - news) AG, UBS AG (LSE: 0QNR.L - news) and JPMorgan Chase & Co (Xetra: 850628 - news) of a May 2016 ruling by the New York-based 2nd U.S. Circuit Court of Appeals that allowed various lawsuits against them to proceed. (Reporting by Lawrence Hurley; Editing by Will Dunham)