NEW YORK (Reuters) - HSBC Holdings Plc
The preliminary settlements were disclosed in filings on Tuesday in the U.S. District Court in Manhattan and require a judge's approval. They boost the total payout from 10 settling banks to $408.5 million. HSBC and UBS denied wrongdoing.
Several pension funds and municipalities had accused 14 banks of conspiring to rig the ISDAfix benchmark for their own gain from at least 2009 to 2012.
Companies and investors use ISDAfix to price swaps transactions, commercial real estate mortgages and structured debt securities.
The eight earlier settlements have won preliminary approval.
Payouts include $56.5 million from Goldman Sachs Group Inc
More From This Section
BNP Paribas SA
The private litigation is among many lawsuits in the Manhattan court accusing banks of conspiring to rig rate benchmarks, securities prices or commodities prices.
The case is Alaska Electrical Pension Fund et al v. Bank of America Corp et al, U.S. District Court, Southern District of New York, No. 14-07126.
(Reporting by Jonathan Stempel in New York; Editing by Phil Berlowitz and Cynthia Osterman)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)