AG Hawley Announces Multistate $220 Million Antitrust Settlement with Deutsche Bank

Oct 25, 2017, 14:31 PM
Oct 25, 2017, 14:26 PM

Jefferson City, Mo. – Attorney General Josh Hawley announced today that Missouri has reached a multistate settlement with Deutsche Bank for fraudulent conduct involving the manipulation of LIBOR. LIBOR is a benchmark interest rate that affects financial instruments worth trillions of dollars and has a widespread impact on global markets and consumers. LIBOR manipulation hurt government and not-for-profit counterparties in Missouri and across the country.

Per the settlement, Deutsche Bank has agreed to pay $220 million, $213.3 million of which is to certain governmental and not-for-profit entities allegedly harmed by Deutsche Banks’s conduct. Direct restitution of approximately $1,465,113 will be made to Missouri entities.

“Thanks to this settlement, Missouri institutions will receive the compensation they deserve,” Hawley said. 

The money for Missouri is in the form of direct restitution and will be disseminated to the entities by a claims administrator. Settlement proceeds will go directly to entities identified as being harmed. 


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