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More traders to challenge rate-rigging convictions
Four traders are appealing to have their rate-rigging convictions overturned after the Supreme Court quashed two rate-rigging cases on Wednesday. Jay Merchant, Jonathan Mathew, Philippe Moryoussef, and Christian Bittar are seeking acquittal following the victory of traders Tom Hayes and Carlo Palombo. All of the traders were convicted of manipulating the interest rates used for loans between banks, know as Libor in the UK, an issue at the heart of the 2008 financial crisis. "Following the Supreme Court's landmark decision yesterday to quash the convictions of Tom Hayes and Carlo Palombo, all four of our clients now ... (full story)
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