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SIBOR.SG
id: 542

SIBOR | SOR $155.5 Million Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. New York
Court
1:16-cv-5263 (AKH)
Case number
01 Jan 2007
Class period Start
31 Dec 2011
Class period End
20 Jan 2023
Claim deadline
The Group of Major Banks agreed to pay up to $155.5 million to settle a securities class action lawsuit to avoid further litigation.

All natural persons and entities who purchased, sold, held, traded, or otherwise had any interest in SIBOR- and/or SOR-Based Derivatives during the period from January 1, 2007, through December 31, 2011, may be intitled to the settlement.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Price manipulation
Omissions
Suspected Party
Investment Bank
Service Provider
Security Type
Interest Rate
Trade Direction
Long
Plaintiffs
Fund Liquidation Holdings LLC
Attorneys
LOWEY DANNENBERG, P.C.
Defendants
Citibank, N.A. and Citigroup Inc., JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A., ING Bank N.V., Deutsche Bank AG, The Hongkong and Shanghai Banking Corporation Limited, Credit Suisse AG, Australia and New Zealand Banking Group, Ltd., Bank of America, N.A., Barclays Bank PLC, BNP Paribas, S.A., Commerzbank AG, Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, The Royal Bank of Scotland plc, Standard Chartered Bank, UBS AG, and United Overseas Bank Limited
Judge
Hon. Alvin K. Hellerstein
Administrator
A.B. Data Ltd
Court hearing date
29 November 22
Exclusion deadline
31 October 2022
Objection deadline
31 October 2022
Hearing deadline
17 October 2022
Trades matching type
FIFO
+$155,458,000
Total Settlement Amount

Singapore Interbank Offered Rate

The Singapore Interbank Offered Rate (SIBOR) is the benchmark interest rate, stated in Singapore dollars, for lending between banks within the Asian market. The banking industry uses an interbank m...

    Ticker
    SIBOR.SG
    Sector
    Financial Services
    Industry
    Financial Services
    Country
    SG
    Address
    Singapore