Lawsuits against banks loom in Libor scandal

By James O’Toole @CNNMoneyInvest July 6, 2012

NEW YORK (CNNMoney) — The Libor interest-rate-fixing scandal has already cost Barclays more than $450 million. For the British banking giant and others, however, that could be just the beginning.

Two dozen lawsuits have been filed against banks involved in setting Libor by plaintiffs who claim they lost money as a result of the rate’s manipulation. And that’s just in the United States — given Libor‘s global reach, investors around the world may have cases.

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