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A federal appeals court on Wednesday said 18 banks and financial services companies must face a lawsuit claiming they conspired to rig benchmark Singapore interest rates, even though the original two plaintiff funds had already dissolved when the case began.
Reversing a lower court ruling, the 2nd U.S. Circuit Court of Appeals in Manhattan said Fund Liquidation Holdings LLC could step into the funds’ shoes as their alleged assignee without having to pursue its antitrust and racketeering claims from scratch.
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