«Requiring the banks to pay treble damages to every plaintiff who ended up on the wrong side of an independent Libor ‐ denominated derivative swap would, if
appellants» allegations were proved at trial, not only bankrupt 16 of the world's most important financial institutions, but also vastly extend the potential scope of antitrust
liability in myriad markets where derivative instruments have proliferated,» the U.S. Court of Appeals in New York said in the ruling.A U.S. appeals court on Monday revived private antitrust litigation accusing major banks of conspiring to manipulate the Libor benchmark interest rate, in a big setback for their defense
against investors» claims of market - rigging.