The VIX is Fixed?! Plaintiffs Would Like Some Discovery Real Quick

The VIX is Fixed?! Plaintiffs Would Like Some Discovery Real Quick

With apologies for the substandard rhyming in this title, this is a quick post to update you on the current status of the VIX Plaintiff’s motion for expedited discovery. On Friday January 11th, a minute entry on the docket showed that Plaintiff’s motion was denied, without prejudice, with an order with further court dates to be issued once the motion to discuss is fully briefed.
Note: If you’re looking for an overview of the VIX case more generally, take a look at this post for general background on the platform, and this one for a more detailed look at the complaint. Continue reading The VIX is Fixed?! Plaintiffs Would Like Some Discovery Real Quick

HSBC Agrees To Settle SSA Bond Manipulation Suit

HSBC Agrees To Settle SSA Bond Manipulation Suit

Law360 and Reuters are reporting that HSBC Bank PLC and HSBC Securities (USA) Inc. have agreed to pay $30 million to settle antitrust claims arising from allegations that a number of banks conspired to rig the SSA (Sovereigns, Supranationals, and Agencies) bond market between 2005 and 2015. Deutsche Bank and Bank of America previously settled claims; the remaining defendants include TD Bank, Barclays, BNP Paribas, Credit Agricole, and Credit Suisse. The action is pending in the S.D.N.Y. before Judge Edgardo Ramos. Continue reading HSBC Agrees To Settle SSA Bond Manipulation Suit