Citibank, N.A., agreed to settle a class action lawsuit by payment of $23 million that alleged the bank and numerous other banking defendants unlawfully manipulated the London Interbank Offered Rate and the Tokyo Interbank Offered Rate from at least June 1, 2006, through September 2010. Plaintiff urged the New York-based federal court hearing this case to accept Citi’s settlement as an “ice breaker” to potentially serve as a “catalyst” for other defendants to settle. Plaintiff initially filed its lawsuit in April 2012.