Back to today’s briefing

Story perspectives

Tom Hayes Sues UBS for $400 Million Over Libor Scandal

10/28/2025

50 5

Summary

Story summary

Tom Hayes, a former UBS trader linked to the Libor rigging scandal, filed a $400 million lawsuit against UBS for malicious prosecution.
Hayes alleges UBS sacrificed him to protect its senior leadership and that Libor manipulation was common.
His 2015 conviction was quashed by the UK Supreme Court in July 2025.
He says the case seeks justice rather than money to prevent similar situations for others.

1 of 1

Story summary

Tom Hayes, a former UBS trader linked to the Libor rigging scandal, filed a $400 million lawsuit against UBS for malicious prosecution.
Hayes alleges UBS sacrificed him to protect its senior leadership and that Libor manipulation was common.
His 2015 conviction was quashed by the UK Supreme Court in July 2025.
He says the case seeks justice rather than money to prevent similar situations for others.