NOTABLE CASES

The Critical ABCs of Antitrust Litigation and Recovery Opportunities

POSTED AUGUST 31, 2018

BACKGROUND

  • Cases arose following the discovery that many large banks were submitting false data related to setting various benchmark interest rates and colluding to manipulate exchange rates.
  • A relatively new phenomenon regarding litigation and shareholder recoveries.
  • Many of the same defendants from case-to-case.

ANTITRUST SETTLEMENTS – SIX LARGEST U.S.-BASED SETTLEMENTS

CASE NAME # OF SETTLING DEFENDANTS AMOUNT CLAIMS ADMINISTRATOR RANKING*
Foreign Exchange Benchmark Rates 15 $2,310,275,000 Garden City Group 8th Largest
Credit Default Swaps 12 $1,864,650,000 Garden City Group 9th Largest
LIBOR-Based Financial Instruments 4 $590,000,000 Rust Consulting 27th Largest
ISDAfix Transactions 15 $504,500,000 Epiq Systems 30th Largest
Euro Interbank Offered Rate 3 $309,000,000 A.B. Data 56th Largest
Euroyen-Based Derivatives 5 $236,000,000 A.B. Data 72nd Largest
*U.S. Settlement Rank, if case was a traditional class action

ANTITRUST SETTLEMENTS – TOP 10 NOTED DEFENDANTS

The Critical ABCs of Antitrust Litigation and Recovery Opportunities

SETTLEMENT DETAILS

  • Wide range of time (class period) during which the alleged collusion took place (from 3 years to 13 years).
  • Multiple defendants within each case.
  • Providing substantial settlements totaling over $5.8 billion.

COMMON THREADS

  • Claimants domiciled within the U.S. (or trades conducted within the U.S.).
  • Majority of settlements cover all relevant securities which were held at any point during the class period, as opposed to only trades conducted within the class period.
  • Majority of settlements cover multiple types of securities (e.g., swaps, futures, forward rate agreements, swaptions, and other futures contracts).
  • All cases pose challenges for shareholders to participate.

Never miss an opportunity for recovery.

Learn more about this settlement and how SCAS can help your organization participate.

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