In re LIBOR-Based Financial Instruments Antitrust Litigation, 11-md-2262
In this proposed class action, Plaintiffs allege that sixteen of the world’s largest banks colluded to manipulate the US Dollar-LIBOR benchmark interest rate by submitting false reports to the British Bankers’ Association, the entity charged with calculating and distributing “the most important number in the world.” Plaintiffs filed an Amended Consolidated Class Action Complaint in the S.D.N.Y. Court on April 30, 2012 containing allegations of price fixing in violation of the antitrust laws and commodity manipulation in violation of the Commodity Exchange Act and various antitrust violations under the Sherman Act. See Docket No. 134. Lovell Stewart was named Co-Lead Counsel for the putative Exchange-Based Plaintiff class on December 22, 2011. This class comprises anyone who was harmed by transacting in Eurodollar futures contracts and related options on the Chicago Mercantile Exchange during the period starting August 2007 and ending May 2010. For more information about this case, please contact Amanda N. Miller, Esq (AMiller@lshllp.com) at (212) 608-1900.