In Competition Policy International Article, AAI Special Counsel Sandeep Vaheesan Criticizes District Court Decision in LIBOR Litigation

In an article in Competition Policy International, AAI Special Counsel Sandeep Vaheesan analyzed Judge Naomi Reice Buchwald's dismissal of antitrust claims against many of the world's largest banks over their alleged collusive suppression of the London Interbank Offered Rate (LIBOR). In late March, she dismissed the plaintiffs' claims on antitrust injury grounds. According to the article, this standing doctrine is not meant to screen the claims of consumers, like the plaintiffs, against parties accused of price fixing. In addition, the judge improperly delved into the merits of the plaintiffs' allegations and contradicted several long-standing antitrust precedents on collusion. For now, Judge Buchwald has relieved the defendant-banks of billions of dollars in antitrust liability and threatened to do wider damage to antitrust enforcement against horizontal price fixing and other collusive practices.

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PDF icon A License to Collude287.97 KB