Goldman Sachs to settle US rate-rigging lawsuit for $56.5 million

December 17, 2016 06:09

NEW YORK- Goldman Sachs Group Inc has agreed to pay $56.5 million to resolve a US class action lawsuit accusing it and other banks of rigging an interest rate benchmark used in the $553 trillion derivatives market.

The proposed settlement was disclosed in papers filed in federal court in Manhattan on Friday. It came after seven other banks agreed in May to pay a combined $324 million to resolve the litigation.

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