FRT’s Fast Five: Week ending November 9, 2018

Financial Recovery Technologies Fast Five provides you with the top news in shareholder class actions. Stay up-to-date on the latest developments in U.S. claims filing opportunities, Antitrust settlements, Global Group Litigation matters and more. For more information, contact your Financial Recovery Technologies representative or email us.

1. Traders Ask 2nd Circ. To Take Up Libor Class Cert. Fight

A group of exchange-based traders on Tuesday asked the Second Circuit to take up their midcase class certification fight in a suit claiming UBS AG and Rabobank deliberately modified their submissions in the Libor rate-setting process to manipulate the benchmark. Click here to read the full article (subscription may be needed).

2. Court rules for investors in Volkswagen diesel suit

A court in Germany has ruled that Volkswagen’s main stakeholder must pay 47 million euros ($54 million) in damages to investors for not making a timely disclosure of its scandal over cars rigged to cheat on diesel emissions tests. Click here to read the full article.

3. Funds Fight Chinese Bank’s Venue Bid In SIBOR Rigging Suit

Sonterra Capital Master Fund Ltd. and FrontPoint Asian Event Driven Fund LP have urged a New York federal court to reject a Chinese bank’s arguments that it is not subject to U.S. jurisdiction and its interlocutory appeal in a suit accusing it and other banks of rigging a key Southeast Asian interest rate. Click here to read the full article (subscription may be needed).

4. Forex Counsel Awarded $300M In Fees For $2.3B Deal

A New York federal judge on Thursday awarded more than $300 million in attorneys’ fees to the firms representing an investor class in securing $2.3 billion in settlements over claims that 15 banks colluded to rig benchmark exchange rates in the foreign exchange markets. Click here to read the full article (subscription may be needed).

5. Motley Rice To Lead Riot Investors In Bitcoin Fraud Case

Motley Rice LLC won the position of lead counsel Tuesday in the consolidation of two proposed securities fraud class actions in New Jersey federal court accusing biotech company-turned-cryptocurrency investor Riot Blockchain Inc. of making bogus claims to shareholders about its bitcoin trading practices. Click here to read the full article (subscription may be needed).

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