In re: Platinum and Palladium Commodities Litigation 10-cv-3617 (S.D.N.Y.)
On October 29, 2014, the Futures Plaintiffs filed a motion for preliminary approval of a settlement of the claims for manipulation of NYMEX platinum and palladium futures contracts between June 1, 2006 and April 29, 2010 against MF Global, Inc., through its SIPA Trustee, James W. Giddens. If approved by the Honorable William H. Pauley III in the United States District Court for the Southern District of New York, this would settle such manipulation claims against the final non-settling defendant. See http://platinumpalladiumfutureslitigation.com. The settlement agreement calls for the cash payment of $4,672,500 and an allowed claim in the Bankruptcy proceeding of $18,753,571.43. The Futures Plaintiffs have the right, but not the obligation, to sell the allowed claim for 70 cents on the dollar to MF Global Holdings. For further information, please contact Christopher M. McGrath, Esq. (CMcGrath@lshllp.com).