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A US appeals court has reinstated a civil lawsuit accusing 16 major banks of conspiring to manipulate the Libor benchmark interest rate. The ruling, which overturns a 2013 decision, could bankrupt the institutions, the judges warned. A lower court judge erred in dismissing the antitrust portion of private litigation against Barclays, Bank of America, Deutsche Bank, HSBC, Royal Bank of Scotland and others on the ground that the investors failed to allege harm to competition, according to the US circuit court of appeals in Manhattan.
