In re Foreign Exchange Benchmark Rates Antitrust Litigation – Court denies Summary Judgement to Remaining Defendant

In re Foreign Exchange Benchmark Rates Antitrust Litigation – Court denies Summary Judgement to Remaining Defendant

A few weeks ago, we published an overview of the third consolidated amended class action complaint and the subsequent motion for summary judgment filed by Credit Suisse, the sole remaining Continue reading In re Foreign Exchange Benchmark Rates Antitrust Litigation – Court denies Summary Judgement to Remaining Defendant

SECOND CIRCUIT DELIVERS BLOW TO ANTITRUST “UMBRELLA STANDING”

SECOND CIRCUIT DELIVERS BLOW TO ANTITRUST “UMBRELLA STANDING”

Umbrella standing had been an open question in the Second Circuit, with district courts coming to different conclusion, but the Court of Appeals addressed the issue in December 2021, and its decision in Schwab Short-Term Bond Mkt. Fund v. Lloyds Banking Grp. PLC, 22 F.4th 103 (2d Cir. 2021) (“Schwab II”), dealt a major blow to umbrella standing proponents. Continue reading SECOND CIRCUIT DELIVERS BLOW TO ANTITRUST “UMBRELLA STANDING”

Benchmark Manipulation: SIBOR Update, Part III

Benchmark Manipulation: SIBOR Update, Part III

motion to dismiss and Plaintiffs’ subsequent filing of their Fourth Amended Complaint (take a look here), followed by a post summarizing the opening and opposition briefing on Defendants’ latest motion to dismiss (you’ll find that post here).  Today, we’ll take a quick look at Defendants’ replies, along with Plaintiffs’ motion for a sur-reply and the resulting brief, and, finally, Defendants’ subsequent sur-sur-reply.   Continue reading Benchmark Manipulation: SIBOR Update, Part III