Sonterra Capital Master Fund Ltd., et al. v. Barclays Bank PLC, et al., Case No. 15-cv-3538 (VSB) (S.D.N.Y.

On January 20, 2022, Plaintiff-Appellants moved the Court Of Appeals For The Second Circuit for (a) partial severance of appeal, (2) stay of the severed appeal, and (3) limited remand thereof for the District Court to consider approval of settlement under Federal Rules of Civil Procedure 23 as to Defendant Deutsche Bank AG.  Plaintiffs allege that the defendants combined, conspired, and agreed to manipulate Sterling LIBOR and the prices of Sterling LIBOR-based derivatives during the class period.

Plaintiffs asserted statutory claims arising under the Sherman Act, 15 U.S.C. § 1 et seq.; Clayton Act, 15 U.S.C. §§ 15, 26; Commodity Exchange Act, 7 U.S.C. § 1 et seq. (“CEA”); and the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1961 et seq.; in addition to common law claims against the defendants for unjust enrichment and breach of the implied covenant of good faith and fair dealing.

Plaintiffs allege that this is a class action on behalf of the following class:

All persons or entities that engaged in U.S.-based transactions in financial instruments that were priced, benchmarked, and/or settled based on Sterling LIBOR at any time from at least January 1, 2005, through at least December 31, 2010 (the “Class”).

Excluded from the Class are Defendants and their employees, agents, affiliates, parents, subsidiaries, and co-conspirators, whether or not named in this complaint, and the United States Government.

For further information, please contact Benjamin Jaccarino, Esq., (bjaccarino@lshllp.com)