Hearing on Libor class action venue due

Banks on the US dollar Libor panel could find out as early as next month where they will be facing a class action lawsuit alleging manipulation of the benchmark rate. At least 12 separate complaints had been filed in two different courts as of June 24, and it’s up to the Judicial Panel on Multi-District Litigation to choose a venue – the panel will hear arguments on July 28 in San Francisco.

That decision will set a series of events in motion. The choice of court will determine which judge presi