Interest Rate Swaps Antitrust Litigation (Spread Manipulation)

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SETTLED

Interest Rate Swaps Antitrust Litigation (Spread Manipulation)

FILING DEADLINES:

($25,000,000 Credit Suisse)

TBD (Non-Settling Defendants)

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CASE NUMBER:

16-md-2704 U.S. District Court for the Southern District of New York

CLASS PERIOD:

2013 – 2016

TOTAL SETTLEMENT FUND:

$25,000,000.00

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    SETTLING DEFENDANTS

Non-Settling Defendants

Barclays, Bank of America-ML, BNP, Citibank, Deutsche, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, RBS, and UBS
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    ELIGIBLE CLASS

    All persons or entities who, within the Class Period, directly entered into fixed-for floating, floating-for-fixed, or floating-for-floating interest rate swaps with the Dealer Defendants, or their respective affiliates, in the United States and its territories.

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    ELIGIBLE INSTRUMENTS

    Interest Rate Swap transactions.

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    Preliminary Allegations

    Conspiracy among major interest rate swaps (“IRS”) dealers (“Dealer Defendants”) to boycott Plaintiffs in order to undermine increased competition in the IRS market and thereby maintain the Dealer Defendants’ massive profits.

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    Case Summary

    The complaint alleges that this case concerns a conspiracy among major interest rate swaps (“IRS”) dealers (“Dealer Defendants”) to boycott Plaintiffs in order to undermine increased competition in the IRS market and thereby maintain the Dealer Defendants’ massive profits.   By boycotting and thus destroying Plaintiffs’ trading platforms, all Defendants have succeeded in blocking IRS customers, such as pension funds and municipalities, from enjoying the benefits of greater price transparency and competition.

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  • icon-company-profile

    BRIEF COMPANY PROFILE

    Country: United States

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