NEW YORK, Oct 8 (Reuters) - Barclays Plc has agreedto pay nearly $20 million to resolve a U.S. class action lawsuitaccusing the bank of manipulating the Libor benchmark interestrate, according to court papers filed Wednesday.
The proposed deal, disclosed in court papers filed in NewYork federal court, is the first such settlement of privatelitigation in the United States against various banks accused ofmanipulating the London Interbank Offered Rate.
The $19.98 million settlement must be approved by a federaljudge. It follows earlier agreements by Barclays in 2012 to pay$453 million to settle investigations by U.S. and Britishauthorities related to Libor. (Reporting by Nate Raymond in New York; Editing by MeredithMazzilli)