Case Spotlight: SSA Bonds Antitrust Litigation – Claim Filing Deadline Announced for $95.5M Settlement

FRT Marketing
FRT Marketing
November 17, 2020

On July 16, 2020, a Manhattan federal judge preliminarily approved a $95.5 million settlement that investors reached with Deutsche Bank, Bank of America and HSBC in a suit alleging the banks rigged the market for bonds issued by foreign governments.

The Court recently announced a claim filing deadline of April 16, 2021 for impacted investors to file claims and recover their share of funds from the Settlement pool.

The lawsuit alleges that the Defendants engaged in anticompetitive acts that affected the market for SSA Bonds. “SSA Bonds” include supranational, sovereign, sub-sovereign, governmental, quasi-governmental, and agency bonds or debt instruments regardless of the structure, currency, or credit quality.

Collectively, the aggregated settlement values across all settling defendants total $95.5m:

  • Bank of America – $17,00,000
  • Deutsche Bank – $48,500,000
  • HSBC – $30,000,000

If you believe you were active in the SSA Bond market between January 1, 2005 – March 6, 2019, you may be eligible to recover as a part of this action. FRT can assist you with evaluating your potential for eligibility and file the claims in these cases. If you have any questions, please reach out to your FRT representative or email us.

Additional resources:

Important dates and deadlines

  • Settlement Class Period: January 1, 2005 – March 6, 2019
  • April 16, 2021: Claim Form Deadline
  • April 2, 2021: Fairness Hearing
  • February 1, 2021: Opt-Out Deadline

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.

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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.

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Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

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.