In re: Platinum and Palladium Commodities Litigation 10-cv-3617 (S.D.N.Y.)
On March 18, 2014, the Futures Plaintiffs filed a motion seeking preliminary approval of a partial settlement of this case with (a) the Moore Defendants for $48,400,000, and (b) Defendant Joseph Welsh for a judgment of $35,000,000 in respect of the negligence claim against him collectable solely from his personal assets consisting of his rights against certain insurers. Defendant MF Global, Inc. is not part of the proposed settlement. Lovell Stewart is sole lead counsel in this action. Persons who traded in NYMEX platinum futures contracts and/or NYMEX palladium futures contracts during the time period June 1, 2006 through April 29, 2010 should save their relevant trading records because they may file claims to participate in this proposed settlement. Please check this website regarding preliminary approval of the partial settlement and other updates. Contact Christopher M. McGrath, Esq. (CMcGrath@lshllp.com).