Goldman settles rate rigging lawsuit

Goldman Sachs Still

Goldman Sachs has agreed to pay $56.5m to resolve a U.S. class action lawsuit accusing it and other banks of rigging an interest rate benchmark used in the $553tril derivatives market.

Reuters reports that the proposed settlement was disclosed in papers filed in federal court in Manhattan on Friday. It came after seven other banks agreed in May to pay a combined $324m to resolve the litigation.

As part of the deal, Goldman has also agreed to provide lawyers for the plaintiffs evidence including transaction data, documents and witness interviews, which could be used in litigations against the remaining banks, the court papers said.

Neither a spokesman for Goldman Sachs nor a lawyer for the plaintiffs immediately responded to a request for comment late on Friday.

To access the complete Reuters article hit the link below:

Goldman Sachs to settle U.S. rate-rigging lawsuit for $56.5 million

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