Hire law firm to pursue LIBOR interest rate manipulation lawsuit
In Plain English
The city will join a lawsuit against major banks that allegedly manipulated LIBOR interest rates between 2007-2014. LIBOR determines rates for many municipal loans and investments. The law firm works on contingency, meaning the city pays nothing unless they win a settlement.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
6 to 0
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