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Goldman Sachs to settle U.S. rate-rigging lawsuit for $56.5 million


NEW YORK Goldman Sachs Group Inc (GS.N) has agreed to pay $56.5 million to resolve a U.S. class action lawsuit accusing it and other banks of rigging an interest rate benchmark used in the $553 trillion derivatives market.

The proposed settlement was disclosed in papers filed in federal court in Manhattan on Friday. It came after seven other banks agreed in May to pay a combined $324 million to resolve the litigation.


(Reporting by Nate Raymond in New York; Editing by Paul Tait)

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Reuters