In re LIBOR-Based Financial Instruments Antitrust Litigation. No. 11-md-2262 (NRB) (S.D.N.Y.)

December 30, 2021

On December 30, 2021, the United States Court of Appeals For the Second Circuit entered a decision reversing the prior dismissal of Plaintiffs’ claims against Defendants (1) HBOS plc., (2) Lloyds Banking Group plc., (3) Rabobank (Coöperatieve Centrale Raiffeisen Boerenleenbank B.A.), (4) RBC (Royal Bank of Canada), (5) RBS (Royal Bank of Scotland Group plc), (6) UBS AG, and (7) WestLB AG and Westdeutsche Immobilienbank AG for lack of personal jurisdiction, finding that Plaintiffs had adequately alleged a conspiracy theory of  jurisdiction and remanding for further proceedings.  Schwab Short-Term Bond Market Fund et al v. Lloyds Banking Group PLC et al , 2021 WL 6143556 at *15 (2d Cir. Dec. 30, 2021).

The Firm has been appointed and served as co-lead counsel in the action in which plaintiffs allege that Defendants individually and through conspiracy manipulated and fixed the prices of Eurodollar futures contracts and options in violation of the Commodity Exchange Act, 7 U.S.C. § 1 et seq. (“CEA”) and the Sherman Act, 15 U.S.C. § 1 et seq.

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