Class Cert Denied in In Re Aluminum Warehousing Antitrust Litigation

Class Cert Denied in In Re Aluminum Warehousing Antitrust Litigation

Well, dear readers, this post is going to be a bit outside the usual realm for the Manipulation Monitor. But, in light of my colleague John Whelan’s recent post on the class action settlement in In Re: Libor-Based Financial Instruments Antitrust Litigation, 11-MD-02262 (“In re Libor“), I thought it might be fun to provide a bit of color (or colour) on a related LIBOR action currently proceeding in the Chancery Division of the High Court of Justice of England and Wales. Continue reading Class Cert Denied in In Re Aluminum Warehousing Antitrust Litigation

Preliminary Approval Given For SSA Bond Settlement Allocation Plan

Preliminary Approval Given For SSA Bond Settlement Allocation Plan

The SSA Bonds action concerns allegations that secondary-market dealers for SSA bonds colluded to manipulate prices. As previously reported in this blog, Bank of America, Deutsche Bank, and HSBC settled settled for a combined $95.5 million, and the court subsequently dismissed all claims against the remaining foreign and domestic defendants, including Barclays, Citgroup, RBC, Credit Suisse, Credit Agricole, and TD Bank. This post focuses on aspects of the plaintiffs’ plan to allocate the settlement funds, supported in motion papers, which was given preliminary approval by Judge Edgardo Ramos on July 15, 2020. Continue reading Preliminary Approval Given For SSA Bond Settlement Allocation Plan