igroup, Credit Suisse, Goldman Sachs, Morgan Stanley, RBS, and UBS, and three platform companies were accused of conspiracy to manipulate the primary and secondary markets for U.S. Treasury Securities. Today we will cover the second order dismissing Plaintiff’s claims, this one issued a year to the date from the first. Continue reading Treasury Market Manipulation Action Dismissed Again
Back in February, we posted an update on the high frequency trading litigation, covering the motion for class certification recently filed in the multi-district litigation. Today, we’re here with a quick update on a recent decision, this time on Defendant’s Rule 56 motion for summary judgment on the ground that Plaintiffs lack Article III standing. Defendants simultaneously moved to exclude the expert testimony on which Plaintiffs relied to prove standing. The court granted both motions, stating that “Plaintiffs have not put forward evidence from which a jury could reasonably conclude they have suffered an injury in fact that is fairly traceable to the Exchanges’ sale of these products and services[.]” Continue reading Trickery in High-Frequency Trading: Part 4
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
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
Before diving into this post, I’d recommend you click back to catch up on the Second Circuit’s vacatur and Plaintiffs’ filing of their Fourth Amended Complaint. In this installment, we will cover the opening and opposition briefing on the motion to dismiss; stay tuned for Part III for details on the reply and sur-reply briefing. Continue reading Benchmark Manipulation: SIBOR Update, Part II
briefing in Iowa Public Employees’ Retirement System et al. v. Bank of America et al., 17-cv-6221 (KPF) (SDNY). (And if you weren’t around, click this link for a catch-up!) Between ongoing discovery and sealed briefing, we haven’t had much to update recently. That changed last week with the filing of a motion to preliminarily approve a settlement agreement with the Credit Suisse Defendants. Continue reading Stock Loan Lowdown: Credit Suisse Settlement Update
When we last posted about the litigation challenging alleged manipulation of SIBOR – the Singapore Interbank Offered Rate – the district court had just dismissed plaintiffs’ claims for lack of standing. But that wasn’t the end of the line for Fund Litigation, et al: Plaintiffs’ appeal of the standing decision was successful, and a fourth amended complaint has been filed—and, of course, a new motion to dismiss. This post will cover the Second Circuit’s decision and the latest complaint; next week, we’ll provide a full review of the motion to dismiss briefing. Continue reading Benchmark Manipulation: SIBOR Update, Part I
While we’ve posted frequently on different aspects of the rigging of the foreign exchange markets (see here, here, and here, for example), we haven’t gone into much detail on one of the largest cases: In re Foreign Exchange Benchmark Rates Antitrust Litigation, Index. No. 13-cv-7789 (SDNY). I’m here to fix that! Today’s post will cover the motions (and cross-motions) for summary judgment, and, at the same time, try to fill any gaps left by our earlier discussions. Continue reading In re. Foreign Exchange Benchmark Rates Antitrust Litigation – Summary Judgment Briefing
When we last posted about In re. Commodity Exchange Inc. Gold Futures and Options Trading Litigation, the parties were embroiled in a dispute concerning the data underlying the detailed statistical Continue reading Settlement Approvals in Gold Fixing Antitrust Case
WWhen we last wrote about In re Aluminum Warehousing Antitrust Litigation (Direct Purchaser Plaintiffs), Index No. No. 14-cv-3116-PAE (S.D.N.Y.), United States District Judge Paul A. Engelmayer had recently denied class certification. (See post here.) In this post, we will be doing a quick catch-up on last years’ decision on Defendants’ motion for summary judgment against claims brought by the Individual Purchaser (“IPs”) and First Level Purchaser Plaintiffs (“FLPs” and the subsequent briefing of the still-pending appeal. Continue reading Aluminum Warehousing Antitrust Litigation Update
