CDS Antitrust Settlement
- Obtain more information in regards to the class action lawsuit entitled In re: Credit Default Swaps Antitrust Litigation
- The case revolves around credit default swaps sold by a variety of the world’s largest financial institutions
Class members contend that the financial institutions (see a list of the banks involved further down in this article) violated federal antitrust laws by using anticompetitive acts that affected the price of credit default swaps. Class members contend that the banks participated in secret meetings, telephone calls and email communications to prevent the exchange trading of credit default swaps. Class members in the CDS Antitrust settlement are defined as purchasers and sellers of these credit default swaps between the dates of Jan. 1, 2008 and Sept. 25, 2015.
CDS Antitrust Settlement Footnotes
- A settlement fund of almost $2 billion has been established although it should be noted that the defendants deny any actions of wrong doing
- All objections and opt outs related to the Credit Default Swaps Antitrust Litigation are due by Feb. 29, 2016
- All claim forms are due by May 27th 2016 and the class members will need to provide their Claimant ID and Control Number when submitting a claim
- Daniel L. Brockett & Bruce L. Simon will represent all class members who file timely claims
Please do not contact any of the financial institutions about the settlement (i.e. Bank Of America, Citibank). Any questions about the CDS Antitrust settlement should be directed to 1-888-744-0531 or by writing: Credit Default Swaps Antitrust Litigation c/o GCG P.O. Box 10254 Dublin, OH 43017-5754.
Who are the financial institutions named in the lawsuit? (according to the official In re: Credit Default Swaps Antitrust Litigation court documents)
- Bank of America Corporation
- Bank of America NA
- Barclays Bank PLC
- BNP Paribas
- Citigroup Inc.
- Citibank NA
- Citigroup Global Markets Inc.
- Credit Suisse AG
- Deutsche Bank AG
- Goldman Sachs & Co.
- HSBC Bank PLC
- HSBC Bank USA NA
- JPMorgan Chase & Co.
- JPMorgan Chase Bank NA
- Morgan Stanley & Co. LLC
- Royal Bank of Scotland PLC
- Royal Bank of Scotland NV
- UBS AG
- UBS Securities LLC
- International Swaps and Derivatives Association
- Markit Group Holdings Ltd.
- Markit Group Ltd.
This class action lawsuit is listed as case number 1:13-md-02476-DLC and is pending in the U.S. District Court for the Southern District of New York. Class members looking to fire off an email in regards to the case should send it to info@CDSAntitrustSettlement.com. The exact amount any one class members will receive via the settlement is unknown at this time and will be distrubuted on a pro rata basis.
Primary References