Manipulation Monitor

In this post, we cover a recently filed motion by the defendants in In re Mexican Government Bonds Antitrust Litigation, 18-cv-02830, (In re MGB) to dismiss Plaintiffs’ Consolidated Amended Class Action Complaint (the “Complaint”) for failure to state a claim. The motion to dismiss is available here. Certain of the defendants also have filed a motion to dismiss for lack of personal jurisdiction and improper venue. This post, however, will only discuss the former motion. Continue reading Mexican Government Bond Defendants Seek Dismissal–Part 1

This week, we follow last week’s dismissal of In re SSA Bonds Antitrust Litigation, No. 1:16-cv-03711-ER (SDNY) (“In re SSA“), an action first introduced in our June 27, 2018, post, where one can find a full account of the alleged collusion in the Amended Complaint. In this post, we focus on the Defendants’ December 12, 2017, Joint Memorandum of Law in Support of the Motion to Dismiss, and Judge Ramos’ August 24, 2018, Opinion and Order granting the Motion to Dismiss. Continue reading SSA Swindling? – Part II – Dismissal With Leave to Replead for Failure to Allege Injury in Fact

In our May 17, 2018, post, we alerted you to several lawsuits filed in the Southern District of New York alleging manipulation of the market for Mexican government bonds, and noted that one case had already moved to consolidate with other actions. Since then, on June 18, 2018, the Court granted motions by plaintiffs in all six of the following cases to consolidate and be granted leave to file a consolidated amended complaint: Oklahoma Firefighters Pension and Retirement System et al. v. Banco Santander S.A. et al., 18-cv-02830 (S.D.N.Y.); Manhattan and Bronx Surface Transit Operating Authority et al. v. Banco Santander S.A. et al., 18-cv-03985 (S.D.N.Y.); Boston Retirement System v. Banco Santander S.A., et. al., 18-cv-04294 (S.D.N.Y.); Southeastern Pennsylvania Transportation Authority v. Banco Santander S.A. et al., 18-cv-0440 (S.D.N.Y.), United Food and Commercial Workers Union and Participating Food Industry Employers Tri-State Pension Fund v. Banco Bilbao Vizcaya Argentaria S.A. et al., 18-cv-04402 (S.D.N.Y.), and Government Employees’ Retirement System of the Virgin Islands v. Banco Santander S.A. et al., 18-cv-4673 (S.D.N.Y.). Continue reading Mexican Government Bond Market Manipulation