Legal woes continue at Germany's largest lender, which yesterday agreed to shells out hundreds of millions of dollars to sweep under the carpet a case accusing it of conspiring to manipulate a key interest rate.

Deutsche Bank will pay $240 million to settle private US anti-trust litigation accusing the group of conspiring with other lenders to manipulate Libor.

The bank reached a preliminary settlement that requires a judge’s approval, according to Reuters, which cited court filings made Tuesday with the US District Court in Manhattan.

Germany’s biggest bank by assets is the third lender to resolve claims by so-called “over-the-counter” investors who transacted directly with the banks on a panel to determine Libor, the benchmark interest rate. 

Citigroup shelled out $130 million last July to settle a similar case, while Barclays settled for $120 million in late 2015. 

Banks globally have spent roughly $9 billion to settle Libor-rigging claims. Last year, the UK’s Financial Conduct Authority announced it would replace Libor by the end of 2021 due to a lack of data underpinning it.