Naomi Reice Buchwald - LIBOR Scandal

LIBOR Scandal

In March 2013, Buchwald dismissed much, though not all, of a class action lawsuit directed at the banks that allegedly manipulated the London Interbank Offered Rate.

In particular, in a complicated 161 page memorandum of decision, she argued that U.S. antitrust law does not apply. She said that since the LIBOR-setting process was never meant to be competitive, the suppression of that process was not anti-competitive.