Berger & Montague was one of two plaintiffs'
Co-Lead Counsel in this case alleging that defendant banks
conspired to impose foreign currency transaction
After several years of hard-fought litigation, defendants
agreed to settle the claims for $336 million. The settlement also
provided for improvements in required disclosures by defendants,
and for innovative procedures for distributions which have resulted
in the filing of millions of claims.
In the related matter, Ross v. American Express, No.
04-5723, MDL No. 1409 (S.D.N.Y.) (Pauley, J.), Berger &
Montague, as sole lead counsel, obtained an additional $49.5
million settlement for the benefit of the more than 10 million
class members who were eligible to participate in the Currency
Conversion Fee settlement.