In re LIBOR-Based Financial Instruments Antitrust Litigation
Lenders LIBOR Settlements
MDL No. 11-MD-2262 (NRB)

Welcome to the Home of the Lenders LIBOR Settlements Website

If you are a U.S.-Headquartered Lending Institution that owned a loan with interest payable to you at a rate based upon U.S. Dollar LIBOR anytime between August 1, 2007 and May 31, 2010, you may be eligible for a payment from Settlements reached with Defendant banks.

Important Update: The Claims Administrator has issued settlement checks to eligible claimants.

What is this lawsuit about?

In a class-action lawsuit about alleged manipulation of the London Interbank Offered Rate (“LIBOR”), Settlements have been reached with Credit Suisse Group AG (“Credit Suisse” or the “Settling Defendant”) and MUFG Bank, Ltd. f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd. (“MUFG” or “Settling Defendant,” together with Credit Suisse, “Settling Defendants”). The lawsuit claims that the Settling Defendants and the Non-Settling Defendants (see FAQ 2) unlawfully manipulated U.S. Dollar LIBOR, artificially lowering the rate and causing class members to lose money in connection with loans and transactions regarding loans that paid interest based upon U.S. Dollar LIBOR.

Who is included?

You are included in the Settlements if you are a U.S.-headquartered lending institution that originated loans, held loans, held interests in loans, owned loans, owned interests in loans, purchased loans, purchased interests in loans, sold loans, or sold interests in loans with interest rates based upon U.S. Dollar LIBOR, which rates adjusted at any time between August 1, 2007 and May 31, 2010. Class Members will release claims through the Settlements only against Settling Defendants and their affiliates, officers, directors, employees, and other related persons; the Settlements do not impact claims in the lawsuit against the Non-Settling Defendants, and the lawsuit is ongoing.

The loans affected include, among others: U.S. Dollar LIBOR-based loans that include a term, provision, or obligation or right to receive interest payments based on U.S. Dollar LIBOR. The Settlement does not include other types of U.S. Dollar LIBOR-based instruments such as interest rate swaps or bonds.

What do these Settlements provide?

The Settlements with the Settling Defendants will create a $760,000 Settlement Fund that will be used to pay eligible Class Members who submit valid claims. The cost to administer the Settlements, attorneys’ fees, and the payment to the Class Representatives will come out of the Settlement Fund (See FAQ 20).

Where can I find information about previous Settlements?

Previous Settlements with Citibank, HSBC and Barclays received final approval from the Court on December 20, 2018. Previous Settlements with JPMorgan, Bank of America, and UBS received final approval from the Court on May 26, 2020. A previous Settlement with Deutsche Bank received final approval from the Court on March 15, 2021. For more information about these settlements, visit the corresponding FAQ page.

YOUR LEGAL RIGHTS AND OPTIONS

For information on the dates by which to exercise the options described below for each of the Settlements, visit the Key Dates page.

 

OPTION EVENT
Already Submitted A Valid Proof Of Claim In Prior Settlement? You need not submit a Claim Form now if you previously submitted a valid proof of claim in any of the prior settlements. The claims administrator will use the information already on file.
If You Did Not Previously Submit A Claim - Submit a Claim This is the only way to get a payment if you did not submit a valid Proof of Claim to the Claims Administrator in connection with the previous settlements in the Lender Action.
Ask to be Excluded You will get no monetary benefits from the Settlements. This is the only option that allows you to retain any claims released by the Settlements against Settling Defendants about U.S. Dollar LIBOR manipulation and other claims at issue in this case.
Object If you wish to object to the Settlement, or anything else referenced in this Notice, you must have filed a written objection.
Go to a Hearing You may have requested to be heard at the Fairness Hearing.
Do Nothing If you already sent a valid Proof of Claim in connection with the previous settlements in the Lender Action, and wished to receive a payment in connection with these Settlements, you were encouraged to do nothing. The Claims Administrator processed your claim using the information previously submitted.

If you did not previously submit a valid Proof of Claim in connection with the previous settlements in the Lender Action and did nothing here, you forfeited your right to get a monetary benefit from the Settlements.

Regardless of whether you sent in a Proof of Claim, unless you excluded yourself, you gave up your rights to assert claims released by the Settlements against Settling Defendants about U.S. Dollar LIBOR manipulation claims at issue in this case.

For More Information

Visit this website often to get the most up-to-date information.

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1-833-609-9716
Email
info@LendersLiborSettlements.com
Mail

Lenders LIBOR Settlements
c/o JND Legal Administration
P.O. Box 91347
Seattle, WA 98111