Euroyen Case Update (October 2019): Eight Japanese Banks Receive Preliminary Approval for $71M Settlement

On September 11, 2019, The Court entered into an agreement preliminary approving the proposed settlement of $71 million for eight Japanese banks. The total settlement is broken down into two groups of settling defendants: A $32 million settlement involving defendant banks Sumitomo Mitsui Trust Bank, The Bank of Yokohama Ltd., Shinkin Central Bank, The Shoko Chukin Bank Ltd. and Resona Continue Reading

ISDAfix Case Update (June 2018): Settlements for the Remaining Five Defendants Have Received Preliminary Approval

By Andrew Lasky, Legal Product Specialist, Financial Recovery Technologies On Tuesday, June 26, 2018, U.S. District Judge Jesse M. Furman preliminarily approved the final proposed $96 million settlement with the remaining 5 defendants in the Alaska Electrical Pension Fund v. Bank of America Corp. et al (ISDAfix) antitrust class action lawsuit. The 5 remaining defendants include: BNP Paribas, Wells Fargo, ICAP Capital Continue Reading

Petrobras: Understanding the importance of monitoring both U.S. and Non-U.S. class actions

Petrobras, a Brazilian state-run energy company, is embroiled in the largest corruption scandal in Brazilian history.  An investigation dubbed “Operation Car Wash” by local Brazilian law enforcement authorities alleges that former Petrobras executives falsely inflated the value of construction projects for their own profit and paid kickbacks to politicians.  Numerous Petrobras executives, politicians, and contractors have been arrested and jailed, Continue Reading

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