SSA Bond Antitrust Litigation

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SETTLED

SSA Bond Antitrust Litigation

FILING DEADLINES:

TBD (Non-Settling Defendants)

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CASE NUMBER:

16-cv-3711 U.S. District Court for the Southern District of New York

CLASS PERIOD:

January 1, 2005 – September 30, 2017

TOTAL SETTLEMENT FUND:

$95,500,000.00

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    SETTLING DEFENDANTS

    HSBC, Deutsche, Bank of America

Non-Settling Defendants

Barclays, BNP, Citi, Credit Agricole, CS, Nomura, RBC, TD
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    ELIGIBLE CLASS

    All persons or entities who, during the class period, directly entered into U.S. dollar-denominated SSA bond transactions with Defendants, or their respective subsidiaries or affiliates, in the United States or its territories or otherwise involving U.S. trade or commerce.

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    ELIGIBLE INSTRUMENTS

    Any and all supranational, sovereign, sub-sovereign, governmental, quasigovernmental, and agency bonds or debt instruments regardless of the structure, currency, or credit quality. The term “SSA Bonds” excludes bonds issued by sovereign nations in the sovereign’s domestic currency, including, but not limited to, U.S. Treasury bonds or U.K. gilts.

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    Preliminary Allegations

    This antitrust class action concerns Defendants collusive activities to fix the prices of SSA bonds sold to and purchased from investors in the secondary market.

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    Case Summary

    SSA Bond Antitrust Litigation:

    This antitrust class action concerns Defendants collusive activities to fix the prices of SSA bonds sold to and purchased from investors in the secondary market. SSA bonds are issued by a variety of international entities, including, among others: provinces and states; regional development banks; infrastructure borrowers such as highway and bridge authorities; social security funds; export creditors; and rail sector entities. International issuers sometimes issue their debt in currencies different from their local currency, including U.S. dollars, to take advantage of potentially lower all-in funding costs, as well as to broaden the potential pool of investors to which these bonds can be sold.

Case Updates

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Next Steps

Contact your Battea Customer Service Representative directly. info@battea.com or +1-203-987-4949.

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    BRIEF COMPANY PROFILE

    Country: United States

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