News & Analysis as of

Class Action Libor

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
King & Spalding

Can’t We All Just Get Along? Four Key Areas of Dispute in the Evolving Landscape of LIBOR Cessation Litigation

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On November 30, 2020, parties to legacy LIBOR contracts breathed a collective sigh of relief as LIBOR’s administrator Intercontinental Exchange, Inc. (“ICE”) announced that US Dollar LIBOR would continue to be published until...more

BCLP

2019 Year in Review for Financial Services Class Actions

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Focus areas included FCRA, Fair Lending, ancillary fees and services (such as lender placed flood insurance), TCPA, privacy and data security and other topics. Consumer Financial Protection Bureau’s Director Kathleen...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - January 2020

In this issue, we summarize regulatory, litigation and industry developments from October 2019 to early January 2020 impacting the investment management sector, including SEC action on use of derivatives by registered...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - September 2019

In this issue, we summarize regulatory, litigation and industry developments from May to September 2019 impacting the investment management sector, including SEC action on standards of conduct for broker-dealers and...more

Orrick, Herrington & Sutcliffe LLP

Securities Law/Commodities Exchange Act (CEA) - The World in U.S. Courts: Summer 2019

Factual Allegations Insufficient to Establish US Transaction in Securities Fraud Suit by Cayman Islands Bank Against Brazilian Entity Relating to Debt Securities Sold Outside the US - Banco Safra S.A. – Cayman Islands...more

Robins Kaplan LLP

Financial Daily Dose 9.12.2019 | Top Story: Purdue Pharma Reaches Tentative Comprehensive Opioid Crisis Settlement

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The White House is reportedly nearing a nationwide ban on most flavored e-cigarettes, a direct response to the recent spate of vaping-related illnesses that have affected hundreds across the country....more

McDermott Will & Emery

Cartel Snapshot - June 2019

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The Department of Justice (DOJ) Antitrust Division announced three new investigations and several developments in its other investigations, including new investigations in the commercial flooring industry, online auctions for...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Jobs Report Friday! Here’s what to watch as you’re sorting through the numbers this morning....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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After weeks of regular negotiations (and months of back-and-forth before that), the rough outlines of a broad US/China trade deal are starting to take shape.  Early reports look like the end of US tariffs in exchange for...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Some reaction to the HQ2 x2 news, including what a pair of new tech hubs actually means for the cities that have thrown out the red carpet to Amazon and other technology giants....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The results are in, and Comcast has bested Fox in the quest for British satellite broadcaster Sky with a final bid of roughly $39 billion in the unusual 3-round auction overseen by the UK’s Takeover Panel. The result must be...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The FBI and OCC have each launched inquiries into pricing practices within American Express’s forex unit with an aim to determine “whether the foreign-exchange international payments department misrepresented pricing to...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Late last week, a California jury found Monsanto liable in the first of a series of cases accusing the Roundup weedkiller maker of causing plaintiff Dewayne Johnson’s non-Hodgkin’s lymphoma, awarding him an incredible $289...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Commerce Department data released yesterday showed strong across-the-board consumer spending in April, a nominally good sign but one that pushed bond yields higher and sent most equities lower for the day, snapping an 8-day...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Some analysis of last week’s jobs report, including thoughts on why a sub-4% unemployment rate poses a problem for a Fed still set on a slow and steady rate hike plan....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Analysis of the Fed’s January meeting minutes shows Fed officials suggesting that robust economic growth has created the right conditions for higher interest rates....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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More trouble for the embattled British PM Theresa May. We learned yesterday that Britain’s second-largest construction firm—Carillion—was forced into liquidation after amassing a staggering $1.35 billion in debt. The downfall...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Journal gives us a revealing long look at the true meaning behind a Morningstar investment star ranking and finds that the coveted 5-star overall rating translated into a 5-year performance worthy of that designation just...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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As the scandal grows, WF’s newish CEO, Timothy Sloan, faces the unfortunate reality of being a company man (30-years at Wells) when the foundations of that company are cracking....more

Patterson Belknap Webb & Tyler LLP

After Favorable LIBOR Ruling from the Second Circuit, Investors Now Allege Anticompetitive SIBOR Manipulation

On July 5, 2016, investors filed a federal class action in the Southern District of New York alleging defendant banks had manipulated the Singapore Interbank Offered Rate (SIBOR) “and/or” Singapore Swap Offer Rate (SOR)...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 7.11.16

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A putative class action filed last week is accusing 25 prominent banks—including Deutsche Bank, Goldman Sachs, and Barclays—of “conspiring to rig the market for securities” sold by the US Treasury in their roles as primary...more

Bilzin Sumberg

Citibank Breaks the Ice with a $23 Million Settlement in LIBOR Class Action

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Citibank, N.A. has asked a federal district court to bless its $23 million settlement in a class action lawsuit alleging a wide-ranging conspiracy among banks to fix yen-denominated London Interbank Offered Rates (LIBOR)...more

Patterson Belknap Webb & Tyler LLP

Motion to Dismiss Denied in FX Rigging Case

A federal judge in New York on Wednesday allowed a consolidated class action by U.S.-based investors concerning the rigging of the foreign exchange (FX) market to move forward. In denying a motion to dismiss, U.S. District...more

Bradley Arant Boult Cummings LLP

U.S. Supreme Court Clarifies Timing for Appeal of Individual Case Dismissed Within Consolidated Multidistrict Litigation...

On January 21, 2015, the U.S. Supreme Court issued its decision in Gelboim v. Bank of America Corp., No. 13-1174, a case involving the timing for an appeal of an individual case that has been dismissed within a consolidated...more

Patterson Belknap Webb & Tyler LLP

Supreme Court Revives LIBOR Antitrust Appeal in Gelboim et al. v. Bank of America Corp. et al.

On January 21, 2015, the Supreme Court of the United States issued a highly anticipated decision in a LIBOR-based antitrust class action suit allowing a plaintiff to immediately take a direct appeal from an order dismissing...more

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