Ten big banks settle US interest rate swaps rigging litigation

NEW YORK, June 27 (Reuters) – Ten large banks including Bank of America (BAC.N), opens new tab, Goldman Sachs (GS.N), opens new tab and JPMorgan Chase (JPM.N), opens new tab will pay $46 million to settle a long-running antitrust lawsuit accusing them of conspiring to rig the now $465.9 trillion market, opens new tab for interest rate swaps.

Lawyers for investors filed a preliminary settlement to end the eight-year-old nationwide case on Thursday in Manhattan federal court.

The settlement requires approval by U.S. District Judge Paul Oetken, and boosts the value of all settlements in the case to $71 million.

Source: REUTER