FX Case Update (August 2019): Two Settlements of Indirect Forex Suits Have Received Preliminary Approval

On Monday, July 29, 2019, a federal judge in New York preliminary approved the first two settlements of Indirect FOREX suits.  The settlements were with Citigroup ($10 million) and MUFG Bank Ltd. ($985K). Litigation continues against more than ten other big banks that allegedly manipulated the foreign exchange markets between 2007 and 2013. These settlements are separate from the $2.3 Continue Reading

Lessons Learned from the Wells Fargo RMBS Trustee Litigation

Since the financial crisis of 2007-2008, we have seen a flurry of securities class actions settlements involving residential mortgage-back securities (RMBS). Most recently, FRT filed over 1,600 claims for the Wells Fargo RMBS Trustee Litigation on behalf of some of the largest asset managers and hedge funds in the world. For context, in the aftermath of the financial crisis, the Continue Reading

Case Spotlight: Daimler AG

CASE BACKGROUND In 2017, an article was published exposing alleged collusion amongst Germany’s largest automakers, including Daimler AG, for illegally installing “defeat device” software in millions of vehicles, in order to temporarily indicate lower Nitrous Oxide levels emitted by the vehicles during emissions tests. In December 2018, the Lower Regional Court of Stuttgart accepted a motion for model case proceedings Continue Reading

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