Bank of America Corp. and Barclays Plc are among more than a dozen banks sued by the Regents of the University of California over claims they manipulated the London Interbank Offered Rate.
The university system filed an antitrust complaint in federal court in San Francisco. It accuses the banks of fraud, deceit and unjust enrichment, among other claims, and it seeks unspecified damages for either paying inflated interest rates or receiving deflated interest rates on its Libor-linked investments.
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