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Citigroup settles US LIBOR rigging case for $130M

Citigroup Inc. is paying $130 million in settlement over allegations of manipulating the London Interbank Offered Rate, or LIBOR, pending court approval, Reuters reported Aug. 7.

The company did not admit any wrongdoing, according to the news outlet.

In November 2015, U.K.-based Barclays Plc settled a U.S. LIBOR rigging lawsuit for more than $120 million.