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In re: Interest Rate Swaps Antitrust Litigation

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Case overview

Case Number:

1:16-md-02704

Court:

New York Southern

Nature of Suit:

Anti-Trust

Multi Party Litigation:

Class Action, Multi-district Litigation

Judge:

J. Paul Oetken

Firms

Companies

Sectors & Industries:

  1. July 12, 2024

    BofA, Goldman Get First OK For $46M Deal In Rate-Swap Suit

    A New York federal judge has granted the first green light to a $46 million settlement in long-running multidistrict litigation over an alleged plot by several major U.S. and European banks, including Bank of America, JPMorgan Chase & Co. and Deutsche Bank AG, to limit market competition over interest rate swaps.

  2. June 27, 2024

    BofA, JPMorgan, Others To Pay $46M To End Rate-Swaps Suit

    Several major U.S. and European banks, including Bank of America, JPMorgan Chase & Co. and Deutsche Bank AG, reached a $46 million deal on Thursday to resolve a long-running multidistrict litigation over an alleged plot by the banks to limit market competition over interest rate swaps.

  3. December 18, 2023

    MDL Judge Refuses To Certify Class In Rate-Swaps Suit

    A New York federal judge has declined to certify a class of investors in long-running multidistrict litigation over an alleged plot by the top international investment banks to limit market competition over interest rate swaps, ruling that the proposed class isn't cohesive enough to warrant class treatment.

  4. October 06, 2022

    Banks' $2B WhatsApp Admission Tees Off Courtroom Battle

    Megabanks that recently copped to recordkeeping failures related to employees' texts and WhatsApp messages are now facing questions about possible spoliation of evidence in a six-year battle over alleged rigging in the interest rate swaps market.

  5. February 11, 2022

    Credit Suisse Investors Ink $25M 'Icebreaker' Rate Swaps Deal

    Institutional investors leading sprawling multidistrict litigation against nearly a dozen megabanks that allegedly colluded to control the interest rate swaps market told a New York federal judge Friday they've reached a $25 million "icebreaker" settlement with Credit Suisse.

  6. August 07, 2020

    JPMorgan Fights Class Cert. Bid In Interest Rate Swaps Suit

    JPMorgan Chase & Co. in a letter Friday pointed to two recent decisions in New York federal court and the Third Circuit that it says support the rejection of a class certification bid in an antitrust suit over interest rate swaps trading.

  7. June 27, 2019

    Banks Oppose Class Cert. In Interest Rate Swaps Suit

    Major banks including Bank of America Corp. and Credit Suisse AG said a New York federal court shouldn't certify a class of investors alleging that the financial institutions prevented them from trading interest rate swaps on rival platforms, saying in part the certification bid ignores limitations from a dismissal order.

  8. March 18, 2019

    Rate-Swap Antitrust MDL Claims Can't Pre-Date Dodd-Frank

    Full implementation of Dodd-Frank financial reforms remains the dividing line between permitted and barred claims in sprawling multidistrict litigation against 11 megabanks that allegedly colluded to control the interest rate swaps market, after a New York federal judge again refused last week to allow pre-2013 claims.

  9. March 08, 2019

    Investors Seek Class Cert. In Rate-Swap Antitrust MDL

    The institutional investors leading a sprawling multidistrict litigation against 11 megabanks that allegedly colluded to control the interest rate swaps market asked a New York federal judge on Thursday to certify a class of investors who did swaps deals with the banks over the last six years.

  10. November 20, 2018

    Firm's Antitrust Claims Survive In Interest Rate Swaps MDL

    A New York federal judge on Tuesday denied a bid to dismiss fintech firm trueEX LLC's antitrust claims against 11 banks that allegedly boycotted the firm's interest rate swaps platform and funneled business to an exchange that they operated, finding the allegations mirrored others in the multidistrict litigation that were allowed to pass through.

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