Overview
This settlement fund has been established to compensate all persons that purchased, sold, held, traded, or otherwise had any interest in any Euroyen Based Derivatives during the period of January 1, 2006 through June 30, 2011 ("Class Period"). The Plaintiffs have alleged that each of the Defendants manipulated Yen-LIBOR, Euroyen TIBOR, and the prices of Euroyen-Based Derivatives. Defendants allegedly did so by using several means of manipulation. For example, panel banks that made the daily Yen-LIBOR and/or Euroyen TIBOR submissions to the British Bankers' Association and Japanese Bankers Association (collectively, "Contributor Bank Defendants") allegedly falsely reported their cost of borrowing in order to financially benefit their Euroyen-Based Derivatives positions. Contributor Bank Defendants also requested that other Contributor Bank Defendants make false Yen-LIBOR and Euroyen TIBOR submissions on their behalf to benefit their Euroyen-Based Derivatives positions.
| Claims Filing Deadline: | September 25, 2018 (Rolling Deadlines per Settlement) |
| Case Names: | Laydon v. Mizuho Bank, Ltd. et al and Sonterra Capital Master Fund Ltd. et al v. UBS AG et al. |
| Preliminarily Approved Settlement Fund: | $236 Million |
| Class Period: | January 1, 2006 - June 30, 2011 |
Eligible Transactions:
For purposes of the Euroyen Case, the relevant financial instruments and investment products are “Euroyen-Based Derivatives”, which mean the following:
i. a Euroyen TIBOR futures contract on the Chicago Mercantile Exchange (“CME”);
ii. a Euroyen TIBOR futures contract on the Tokyo Financial Exchange, Inc. (“TFX”), Singapore Exchange (“SGX”), or London International Financial Futures and Options Exchange (“LIFFE”) entered into by a U.S. Person, or by a Person from or through a location within the U.S.;
iii. a Japanese Yen currency futures contract on the CME;
iv. a Yen-LIBOR and/or Euroyen TIBOR based interest rate swap entered into by a U.S. Person, or by a Person from or through a location within the U.S.;
v. an option on a Yen-LIBOR and/or Euroyen TIBOR based interest rate swap (“swaption”) entered into by a U.S. Person, or by a Person from or through a location within the U.S.;
vi. a Japanese Yen currency forward agreement entered into by a U.S. Person, or by a Person from or through a location within the U.S.; and/or
vii. a Yen-LIBOR and/or Euroyen TIBOR based forward rate agreement entered into by a U.S. Person, or by a Person from or through a location within the U.S.
Eligible Parties:
All Persons that purchased, sold, held, traded, or otherwise had any interest in any Euroyen-Based Derivatives during the Class Period.