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HSBC agrees to pay $100M to settle LIBOR-related private litigation in US

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HSBC agrees to pay $100M to settle LIBOR-related private litigation in US

HSBC Holdings PLC will pay US$100 million to settle a private U.S. lawsuit that claimed it manipulated the London Interbank Offered Rate, Reuters reported.

The preliminary accord with "over-the-counter" investors requires court approval, according to the newswire.

Citing court papers, Reuters said HSBC did not admit wrongdoing in the agreement.