Mr Cooper Group Inc (COOP)

[t1215s]

OT?? Hmmm , Lloyds LIBOR lawsuit settled on eve of trial - CDR Magazine
Thanxs goes to hold2 BP.

A property tycoon who had alleged that Lloyds' involvement in the LIBOR scandal led to two of his companies failing has settled his GBP 1.3 million claim against the bank.

Lloyds Banking Group has reached a settlement with a property tycoon who accused the bank of manipulating the LIBOR (London interbank offered rate) benchmark interest rate and causing the collapse of his real estate empire. Ardeshir Naghshineh, whose Norwich-headquartered property company Targetfollow used to own the Centre Point tower in central London, sued Lloyds for GBP 1.3 billion in damages, alleging that he would not have taken out loans

https://www.cdr-news.com/categories/litigation/20113-lloyds-libor-lawsuit-settled-on-eve-of-trial

While this isn't really FDIC case, it does provide us with hints about a LIBOR settlement and timing. The take-way from this case:

1) It was settled 12-hour prior to the scheduled trial
2) This is the first case where settlement amount exceeds $1B from a single defendant
3) Total of 87% recovery (thanks to Ady for digging this one out)

I still believe a settlement with FDIC as the plaintiff will take place anytime from now though end of the year, likelihood during q1-q2 when the discovery process heats up, IMO. The dynamic elements that will drive the outcome of this case are settlement amount, timing of the case, compound legal fees and of course reputation of the involved banks and entities.
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Have a great evening people AND don't let the noise from dark places bother you cause haters are going to hate regardless,-GLTA-Ts 😉