Less than a month after the U.S. Supreme Court reignited sprawling antitrust litigation accusing major banks of conspiring to fix the London Interbank Offered Rate, the stage is quickly being set for the next big Libor battle at the U.S. Court of Appeals for the Second Circuit.

U.S. District Judge Naomi Reice Buchwald agreed last week to allow appeals by several groups in the consolidated Libor case who are contesting her 2013 decision dismissing the antitrust claims at the heart of the litigation. Those plaintiffs had argued that they shouldn't be sidelined after the Supreme Court held Jan. 21 that a smaller group of bond purchaser plaintiffs could appeal Buchwald's 2013 ruling.

Thanks to Buchwald's Feb. 5 order, the bondholders' lawyers at Morris and Morris and Weinstein Kitchenoff & Asher may have plenty of company as they try to revive their antitrust claims. The groups now cleared to pursue an appeal include over-the-counter investors—pension funds and others that directly purchased Libor-linked financial products—and also investors that traded certain futures on the Chicago Mercantile Exchange. Susman Godfrey's William Carmody represents both the OTC and exchange plaintiffs.