October 16, 2012

Cohen Milstein Partner Carol V. Gilden participated in on online CLE webinar entitled "The London Interbank Offered Rate (LIBOR) Litigation Landscape."  Ms. Gilden has deep experience in law and litigation involving securities and investments and provided her perspective as counsel to investors.

Summary

Once again the financial world— especially investors— has been rocked by allegations and even criminal charges of lending rate manipulation within major financial institutions.  And once again the numbers are big. More than $350 trillion in derivatives and other financial instruments are reportedly tied to LIBOR.  The New York Times® describes LIBOR as a “benchmark interest rate that affects how consumers and companies borrow money across the world.” Some of the most respected names in banking have been implicated. Barclays Bank of London paid $450 million to settle accusations of rate manipulation, allegations the bank has denied.  This webinar features two attorneys with deep experience in law and litigation involving securities and investments.  Carol V. Gilden, Esq., of Cohen Milstein Sellers & Toll will provide her perspective as counsel to investors, while Howard S. Suskin, Esq., of Jenner & Block will present from his experience counseling lenders and financial institutions. 

Agenda

  • Who has been injured by the scandal? LIBOR has an influence on many trillions of dollars in investments. Individuals, companies and governments have a great deal at risk. The speakers will explain which are likely to be most adversely affected by this controversy.
  • Who has brought suit? Some parties and governments have already initiated formal claims. The speakers will explain who these parties are and provide an update on the status of those proceedings.
  • What are the existing and possible causes of action? The speakers will outline which laws and remedies will be at the center of proceedings against alleged rate manipulators.
  • What are the likely defenses? The speakers will draw on their experience in securities litigation to examine what defenses are being raised and what other potential defenses we can expect.
  • How have regulators responded so far? The speakers will provide an update on the reaction from financial regulators globally.