Case Number: No. 1:11-md-02262-NRB

Practice Area: Antitrust Commodities & Options

Case Status: Settled

Settlement Amount: $187 million

Court: United States District Court for the Southern District of New York

Berger Montague served as class counsel and recovered $187 million in combined settlements on behalf of investors who transacted in Eurodollar futures contracts and options on futures contracts on the Chicago Mercantile Exchange (“CME”). The plaintiffs in the consolidated class action lawsuit captioned In Re: Libor-Based Financial Instruments Antitrust Litigation, No. 1:11-md-02262-NRB (S.D.N.Y.), alleged that 13 global banks conspired and colluded to misreport and manipulate LIBOR rates, thereby harming investors in futures, swaps, and other Libor-based derivative products.

Led by Michael Dell’Angelo, Berger Montague represented the exchange-based investors in the consolidated litigation. LIBOR plays an important role in valuing trillions of dollars of financial instruments worldwide. Eurodollar futures and options are keyed to LIBOR and are the world’s most heavily traded short-term interest rate contracts.

Following years of hotly contested litigation, Berger Montague and its co-counsel achieved combined settlements totaling $187 million representing the largest recovery in a “futures-only” commodities class action litigation.

If you or your company has been harmed by anticompetitive conduct or any conduct that you believe violates the antitrust laws, please contact Berger Montague.

About Berger Montague

Berger Montague is a national law firm focusing on complex civil litigation in federal and state courts throughout the United States. For over half a century, Berger Montague has played lead roles in consequential, precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, and Washington, D.C.

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