FRT Insights

RESOURCES

Case Spotlight: Mexican Government Bonds Antitrust Case Reaches Preliminary $20.7m Settlement

On June 1, 2020, JPMorgan Chase and Barclays PLC agreed to pay $20.7 million to resolve claims that the banks allegedly colluded to manipulate the Mexican government bond market. The proposed settlements put before the judge list JPMorgan paying $15m and Barclays $5.7m. These two banks are the first of nine defendants to agree to a settlement with the hopes that these settlements will serve as the catalysts for resolutions with other defendants in this case and lead to future settlement opportunities down the road.

The class action, filed in March 2018, by several pension funds alleges that defendant banks manipulated auctions by collusive bidding and information sharing during the period starting in January 2006 and running through April 2017. While these settlement amounts are still pending approval by New York Federal Court, defendants Banco Santander, Bank of America, BBVA, Citigroup, Deutsche Bank, HSBC and UBS still remain in litigation.

Currently the settlement is pending preliminary approval and there is no proposed claims filing date, however FRT will continue to monitor the progression of this action and keep the market informed of any meaningful updates.

Additional resources:

Learn More

To learn more about how FRT can help your firm automate participation and recovery in antitrust class actions, visit our website or contact us at learnmore@frtservices.com.

Subscribe to FRT’s Monthly Newsletter

Financial Recovery Technologies’ Shareholder Litigation Fast Five provides you with the top news in shareholder class actions. This is your exclusive summary of the latest industry developments related to settled, group and antitrust actions and recovery opportunities. Click here to subscribe.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

Search Tags

Subscribe to FRT's Monthly Newsletter

Get a monthly update with the latest industry developments related to U.S. Settled, non-U.S. opt-in, global passive and antitrust actions and recovery opportunities

 

Our Authors

avatar for Andrew LaskyAndrew Lasky

Product Marketing Manager

avatar for Jenn RothenbergJenn Rothenberg

VP of Marketing

avatar for Katie WeintraubKatie Weintraub

Senior Product Marketing Manager

avatar for Mike LangeMike Lange

Securities Litigation Counsel

avatar for Rob AdlerRob Adler

Chief Executive Officer

Latest News