Judge Rules in Favor of Big Banks and Against Richmond and EBMUD

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Judge Rules in Favor of Big Banks and Against Richmond and EBMUD
LIBOR gets it name from the City of London.

In January, several Bay Area public agencies, including East Bay MUD and the City of Richmond, filed lawsuits against the world’s largest banks, alleging that the banks rigged a key interest rate to steal millions of public dollars. But on Friday, a federal Judge in the Southern District of New York dismissed these cases in favor of the banks.

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