Foreign Exchange (FOREX) Benchmark Rates Antitrust Litigation
Partial Settlement Amount $2.3 Billion
In re Foreign Exchange Benchmark Rates Antitrust Litigation, No. 1:13-CV-07789 (S.D.N.Y.) on behalf of all Persons or entities who, between January 1, 2003 and December 15, 2015, entered into an foreign exchange instrument directly with Defendant (as defined below), where such persons or entities were either domiciled in the United States or its territories, or if domiciled outside of the U.S. or its territories, transacted FX instruments in the U.S or its territories. FX Instrument includes FX spot transactions, forwards, FX swaps, futures, options, and any other FX instrument or FX transaction that the trading or settlement value of which is related in any way to FX rates. Additionally, eligible class members also include all persons who entered into FX Exchange-Traded Instruments, where such persons were either domiciled in the U.S. or its territories, or if domiciled outside of the U.S. or its territories, entered into FX Exchange-Traded Instruments on a U.S. exchange. FX Exchange-Traded Instruments means any and all FX Instruments that were listed for trading through an exchange, including, but not limited to, FX futures and options on FX futures. Defendants include Bank of America (Merrill Lynch, and Pierce, Fenner & Smith), Barclays, BNP Paribas, Citi, Goldman Sachs, HSBC, JPMorgan, RBS, and UBS, Credit Suisse Group AG, Credit Suisse AG, Credit Suisse Securities (USA) LLC, Deutsche Bank AG, Deutsche Bank Securities Inc., Morgan Stanley, Morgan Stanley & Co., LLC, Morgan Stanley & Co. International plc, Bank of Tokyo-Mitsubishi UFJ Ltd., RBC Capital Markets, LLC, Societe Generale S.A., and Standard Chartered plc. All of the Defendants have settled to this date, except Credit Suisse.
ISDAFIX Benchmark Rate Manipulations Antitrust Litigation
Partial Settlement Amount $408 Million
In re ISDAFix Instruments Benchmark Rates-Antitrust Litigation, No. CV-14-07126 (S.D.N.Y.) on behalf of all persons or entities, between January 1, 2006 and through January 31, 2014, who transacted in interest rate derivative or financial instruments related to interest rate derivative benchmark rates directly with a Defendant. Eligible parties include all persons or entities who entered into, received or made payments on, terminated, transacted in, or held an ISDAFix instrument in the above referenced time period. Defendants include Bank of America, N.A., Barclays Bank PLC, BNP Paribas SA, Citigroup Inc., Goldman Sachs Group, Inc., HSBC Bank USA, N.A., JPMorgan Chase & Co., The Royal Bank of Scotland (RBS), UBS AG, Wells Fargo Bank, N.A., Credit Suisse AG, New York Branch, Deutsche Bank AG, Morgan Stanley & Co., LLC, Nomura Securities International, Inc., and ICAP Capital Markets LLC.
LIBOR-Based Financial Instruments Antitrust Litigation
Partial Settlement Amount $590 Million
In re LIBOR-Based Financial Instruments Antitrust Litigation, MDL Nos. 11-MD-2262 (NRB), 1:11-cv-05450 (NRB) et al. (S.D.N.Y.) on behalf of all persons or entities, between August 1, 2007 and through May 31, 2010, who transacted in and entered into over-the-counter financial derivative and non-derivative instruments (defined below) directly with a Defendant. Defendants include Credit Suisse Group AG; Credit Suisse International; Credit Suisse (USA) Inc. (together, "Credit Suisse"); Bank of America Corporation and Bank of America, N.A, (together, "Bank of America"); JPMorgan Chase & Co. and JPMorgan Chase Bank, NA (together, "JPMorgan Chase"); HSBC Holdings PLC and HSBC Bank PLC (together, "HSBC"); Barclays Bank plc; Lloyds Banking Group PLC ("Lloyds); WestLB AG and Westdeutsche Ummobilienbank AG (together "WestLB"); UBS AG ("UBS"); The Royal Bank of Scotland Group PLC ("RBS"); Citizens Bank of Massachusetts a/k/a RBS Citizens Bank N.A. ("Citizens Bank"); Deutsche Bank AG ("Deutsche Bank"); Citibank NA and Citigroup Inc. (together, "Citibank"); Cooperatieve Central Raiffeisen Boerenleenbank B.A. ("Rabobank"); The Norinchukin Bank ("Norinchukin"); The Bank of Tokyo-Mitsubishi UFJ, Ltd ("Bank of Tokyo"); HBOS PLC ("HBOS"); Societe Generale S.A.; and Royal Bank of Canada ("RBC"). As of this date, Barclays Bank plc, Citibank, Deutsche Bank and HSBC have settled. The litigation is ongoing against the remaining Defendant banks. The instruments include certain interest rate swaps, forward rate agreements and asset swaps, collateralized debt obligations, credit default swaps, inflation swaps, total return swaps, options and floating rate notes.
Euribor Products Antitrust Litigation
Partial Settlement Amount $309 Million
In re Sullivan, et al. v. Barclays plc. et al, No. 13-cv-2811 (PKC) (S.D.N.Y.) on behalf of all persons or entities that purchased, sold, held, traded, or otherwise had any interest in Euribor Products during the class period between June 1, 2005 and March 31, 2011, and were either domiciled in the U.S. or its territories during the class period; or if domiciled outside the U.S. or its territories, you transacted Euribor Products in the U.S., or its territories during the class period. Settlement class members include, but are not limited to, all persons who during the class period traded CME Euro currency futures contracts, all persons who during the class period transacted in NYSE LIFFE Euribor futures and options from a location within the U.S., and all persons who during the class period traded any other Euribor Product from a location within the U.S. or its territories. Euribor Products include any and all interest rate swaps, forward rate agreements, futures, options, structured products and any other instrument or transaction related to Euribor; including but not limited to, the New York Stock Exchange (NYSE), London International Financial Futures and Options Exchange (LIFFE), Euribor futures contracts and options, Chicago Mercantile Exchange (CME) Euro currency futures and options, Euro currency forward agreements, Euribor-based swaps, Euribor-based forward rate agreements; and any other financial instruments that reference Euribor. Defendants include Barclays plc, Barclays Bank plc, Barclays Capital Inc., ("Barclays") Citigroup, Inc., Citibank, N.A., Cooperatieve Rabobank U.A. (f/k/a Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.), Credit Agricole S.A., Credit Agricole CIB, Deutsche Bank AG, DB Group Services (UK) Ltd., HSBC Holdings plc, HSBC Bank plc, ("HSBC") ICAP plc, ICAP Europe Limited, J.P. Morgan Chase & Co., JPMorgan Chase Bank, N.A., The Royal Bank of Scotland plc, Societe Generale SA, and UBS AG. (collectively, "Defendants") Defendants Barclays, HSBC, and Deutsche have settled to this date.
Gold Price Fixing Antitrust Litigation
Partial Settlement Amount $60 Million
In re Commodity Exchange Inc. Gold Futures & Options Trading Litigation, No. 1:14-md-02548 (S.D.N.Y.) on behalf of all persons or entities who during the period from January 1, 2004 through June 30, 2013, either (A) sold any physical gold or financial or derivative instrument in which gold is the underlying referenced asset (including but not limited to, those who sold (i) gold bullion coins, gold ingots or any form of physical gold, (ii) gold futures contracts in transactions conducted in whole or in part on COMEX or any other exchange operated in the United States, (iii) shares in gold exchange-traded funds ("ETFs"), (iv) gold call options in transactions conducted over-the-counter or in whole or in part on COMEX or any other exchange operated in the United States, (v) gold spot, gold forwards or gold swaps over-the-counter); (B) bought gold put options in transactions conducted over-the-counter or in whole or in part on COMEX or on any other exchange operated in the United States. Defendants include The Bank of Nova Scotia, Barclays Bank plc, Deutsche Bank AG, HSBC Bank plc, Societe Generale, and London Gold Market Fixing Ltd.
Silver Price Fixing Antitrust Litigation
Partial Settlement Amount $38 Million
In re London Silver Fixing Ltd., No. 14-md-02573 (S.D.N.Y.) on behalf of all persons or entities that transacted in United States related transactions in or on any over-the-counter market ("OTC"), or exchange in physical silver or in a derivative instrument in which silver is the underlying referenced asset (collectively, "Silver Instruments"), at any time from January 1, 1999 through November 22, 2016. The Defendants include Deutsche Bank AG, HSBC Holdings PLC, The Bank of Nova Scotia, and UBS AG. The suit alleges that some of the world's largest financial institutions engaged in illegal price fixing and manipulation of the silver market, involving violations of the Sherman Antitrust Act and the Commodities Exchange Act.
Euroyen Antitrust Litigation
Partial Settlement Amount $236 Million
In re Laydon v. Mizuho Bank Ltd, et al. 12-cv-3419 (GBD) (S.D.N.Y.) and Sonterra Capital Master Fund Ltd, et al. v. UBS AG, et al, 15-cv-5844 (GBD) (S.D.N.Y.) on behalf of all persons or entities, who, between January 1, 2006 through June 30, 2011, entered into or transacted in Euroyen-based derivatives with one or more of the Defendants (defined below). The Plaintiffs allege that the Defendants manipulated or aided and abetted the manipulation of Yen-LIBOR, Euroyen TIBOR, and the prices of Euroyen-based derivatives. Euroyen-based derivatives include: Euroyen TIBOR futures contracts on the Chicago Mercantile Exchange (CME), Euroyen TIBOR futures contracts on the Tokyo Financial Exchange, Inc. (TFX), Singapore Exchange (SGX), or London International Financial Futures and Options Exchange (LIFFE), Japanese Yen currency futures on the CME, Yen LIBOR and/or Euroyen TIBOR based interest rate swaps, Yen LIBOR and/or Euroyen TIBOR forward rate agreements, Japanese Yen currency forward agreements, and options on a Yen-LIBOR and/or Euroyen based interest rate swaps ("swaption"). The Defendants include R.P. Martin Holdings Limited, Martin Brokers (UK) Ltd., Citigroup Inc., Citibank, N.A., Citibank Japan Ltd., Citigroup Global Markets Japan Inc., HSBC Holdings plc, and HSBC Bank plc, Deutsche Bank AG, DB Group Services (UK) Ltd., JPMorgan Chase & Co., JPMorgan Chase Bank, National Association, and J.P. Morgan Securities plc, Mizuho Bank Ltd, The Bank of Tokyo-Mitsubishi UFJ, Ltd, The Sumitomo Trust and Banking Co., Ltd, The Norinchukin Bank, Mitsubishi UFJ Trust and Banking, Sumitomo Mitsui Banking Corporation, Resona Bank, Ltd, The Shoko Chukin Bank, Ltd, Shinkin Central Bank, UBS AG, UBS Securities Japan Co, Ltd, The Bank of Yokohama, Ltd. Societe Generale SA, The Royal Bank of Scotland, Barclays Bank PLC, Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., ICAP PLC, Lloyds Bank PLC, Tullett Prebon PLC, Bank of America, N.A. Merrill Lynch International.
SSA Bonds Antitrust Litigation
Partial Settlement Amount $65.5 Million
In re SSA Bonds Antitrust Litigation, No. 1:16-cv-03711 (S.D.N.Y.) on behalf of all persons or entities that transacted, purchased or traded in the United States supranational, sub-sovereign, and agency bonds (SSA Bonds) with one or more of the Defendants (described below) at any time between 2005 and 2015. Plaintiffs allege that the Defendants forced customers to accept unfair prices on bonds they bought and sold; and the Defendants manipulated trading and fixed prices in the $9 Trillion SSA bond market. Defendants include Deutsche Bank AG, Bank of America Corp, BNP Paribas SA, Citigroup Inc. Credit Agricole SA, Credit Suisse Group AG, HSBC Holdings Plc, Nomura Holdings Inc, Royal Bank of Canada, and Toronto Dominion Bank.
Liquid Aluminum Sulfate Antitrust Litigation
Active- Settlement Amount TBD
In re Liquid Aluminum Sulfate Antitrust Litigation-Case No. 2:16 md-02687 (MDL 2687)-JLL-JAD (D.N.J.). An antitrust case which is on behalf of all persons or entities in the United States, between 1997 and through February 2011, who directly purchased from Defendants (as listed below) liquid aluminum sulfate. ("LAS") The litigation contains claims against the major manufacturers of LAS who allegedly engaged in a conspiracy to artificially inflate the price of LAS. Additionally, the litigation seeks to ensure that the Defendants do not abuse the public bidding process for their own gains after they allegedly fixed, stabilized, and maintained the price of LAS sold in the United States over many years. The conspiracy forced the payment of allegedly inflated prices for LAS. The Defendants include: 1) General Chemical Corporation; 2) General Chemical Performance Products, LLC; 3) Gentek, Inc.; 4) Chemtrade Logistics Income Fund; 5) GEO Specialty Chemicals, Inc.; 6) C & S Chemicals Inc.; 7) Southern Ionics, Inc.; and 8) USALCO, LLC
Urethane Antitrust Litigation
Settlement $835 Million
In re Urethane [Polyether Polyol] Antitrust Litigation, No. 04-MD-1616-JWL (D. Kan.) An antitrust class action for persons and entities who purchased Polyether Polyol Products (defined below) directly from a defendant at any time from November 24, 2000 through December 31, 2003 in the United States and its territories (excluding all governmental entities, any defendants, their employees, and their respective parents, subsidiaries and affiliates). "Polyether Polyol Products" are: propylene oxide-based polyether polyols (polyols); monomeric or polymeric diphenylmethane diisocyanates (MMDI or PMDI - collectively, MDI); toluene diisocyanates (TDI); MDI-TDI blends; or propylene oxide-based polyether polyol systems (except those that also contain polyester polyols). Defendants are Bayer AG, Bayer Corporation, and Bayer MaterialScience LLC (F/K/A Bayer Polymers LLC); BASF Corporation and BASF SE (F/K/A BASF AG); The Dow Chemical Company; Huntsman International LLC; and Lyondell Chemical Company.