Deutsche Bank Settles $150 Million Libor Lawsuit with Exonerated Trader

Jul 10, 2024, 05:30 PM

Deutsche Bank has settled a $150 million lawsuit with a former trader who was convicted and later cleared of charges related to rigging the Libor benchmark rate. The trader accused Deutsche Bank of making false and misleading statements and claimed he was made a scapegoat by the bank, referring to himself as the Libor 'fall guy'. The settlement follows the trader's exoneration and the overturning of his conviction in New York.