US homeowners file class action Libor lawsuit It is the first class-action lawsuit filed by home owners, according to the newspaper, which said other class action suits have been brought by investors and municipalities. Annie Bell Adams, a pensioner who had her home repossessed, is one of the five lead plaintiffs. Her subprime mortgage was securitised into Libor-based collateralised debt obligations and sold by banks to investors, the FT said. The suit alleges that traders at banks in Europe and North America, including Barclays, Bank of America and UBS, were incentivised to manipulate the London interbank offered rate to a higher rate on certain dates on which adjustable mortgage interest rates were reset. This resulted in homeowners paying more between 2000 and 2009, the FT quoted the complaint as saying. The plaintiffs, who have lost thousands of dollars each, could number 100,000, their Alabama-based attorney John Sharbrough was quoted by the FT as saying. He declined to give a figure on the total damages his clients are seeking.