SEATTLE, Aug. 15, 2012 (GLOBE NEWSWIRE) -- Attorney Advertising. Keller Rohrback L.L.P. (www.krcomplexlit.com) is investigating potential claims against member banks of the British Bankers Association ("BBA") for manipulating the London Interbank Offering Rate ("LIBOR"). This investigation follows inquiries by the United States Department of Justice, Securities and Exchange Commission, Commodities Futures Exchange Commission, and several European governmental agencies into such conduct.
LIBOR is the primary benchmark for short term interest rates globally and is used as the basis for settlement of interest rate contracts on many of the world's major futures and options exchanges, including those in the United States. LIBOR is calculated based on submissions by member banks, which have included: UBS, Bank of America, Citibank, Deutsche Bank AG, Credit Suisse Group AG, JPMorgan Chase & Co., HSBC Holdings PLC, Barclays Bank PLC, Lloyds Banking Group PLC, Royal Bank of Scotland Group PLC, WestLB AG, Bank of Tokyo-Mitsubishi Group, Inc., Rabobank Group, Royal Bank of Canada, Societe Generale, and the Norinchukin Bank.
Because so many instruments and securities are tied to LIBOR, these manipulations have resulted in the mispricing of many types of investments held in various portfolios. For example, the portfolios of state investment boards, investment management companies, pension funds, universities, hospitals, and municipalities have been affected, in some cases requiring lay-offs and reduction of services.
If you would like more information regarding our investigation, please contact paralegal Jennifer Tuato'o or attorneys Havila Unrein, Derek Loeser or Mike Woerner at 800/776-6044, or via e-mail at investor@kellerrohrback.com.
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