US judge finds for banks, dismisses most claims in Libor lawsuits

NEW YORK, March 29 Fri Mar 29, 2013 5:19pm EDT

NEW YORK, March 29 (Reuters) - A U.S. judge on Friday dismissed a "substantial portion" of claims facing a number of banks in a barrage of lawsuits accusing them of interest-rate rigging.

U.S. District Judge Naomi Reice Buchwald in Manhattan ruled for the banks, which include Bank of America Corp, JPMorgan Chase & Co and others of allegedly manipulating the London Interbank Offered Rate, commonly known as Libor.

The judge granted the banks' motion to dismiss the plaintiffs' federal antitrust claims and partially dismissed their claims of commodities manipulation. She also dismissed racketeering and state-law claims.

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