FX Case Update (June 2017): Preliminary timeline and expected preliminary approval of settlement with five more defendants

FRT Marketing
June 7, 2017

PRELIMINARY TIMELINE OF NOTICE – MAIL NOTICES SCHEDULED TO BEGIN OCTOBER 2017

On June 1, 2017, Plaintiffs provided the Court a preliminary timeline of notice for re Foreign Exchange Benchmark Rates Antitrust Litigation.

  • October 23, 2017: Mail Notice Begins – provided data and names/addresses are produced by July 31, 2017, date by which mailing of Mail Notice and Claim Form to potential members of Settlement Classes shall begin
  • February 7, 2018: Opt-Out Deadline – deadline for submitting Requests for Exclusion
  • March 22, 2018: Claims Filing Deadline – deadline for submitting Claim Forms
  • May 23, 2018: Fairness Hearing

Link to the filed letter: FX_Court-Letter-preliminary-timeline-of-notice

 

CLASS COUNSEL EXPECTS TO FILE MOTION FOR PRELIMINARY APPROVAL OF A SETTLEMENT WITH FIVE MORE DEFENDANTS

According to a recent Law360 article, class counsel, Christopher M. Burke of Scott & Scott LLP, is expecting to file a motion for preliminary approval of a settlement with five additional defendants, making the total number 14 out of 16. The details of which additional defendants will be settling will not be released until the motion is filed.

  • Settled Defendants : JPMorgan Chase, Citigroup, Barclays PLC, HSBC Holdings PLC, The Royal Bank of Scotland PLC, Goldman Sachs Group Inc., BNP Paribas SA, UBS AG and Bank of America Corp.
  • Not yet Settled Defendants : Morgan Stanley, Credit Suisse AG and Deutsche Bank AG, Japan’s Bank of Tokyo-Mitsubishi, Canada’s RBC Capital Markets LLC, France’s Societe Generale SA and Britain’s Standard Chartered PLC

Link to article: https://www.law360.com/articles/931335/judge-tells-quinn-emanuel-to-cough-up-docs-in-forex-case

 

FOR MORE INFORMATION

For more information on the FX case or to learn how we can help you maximize your recovery, please contact Financial Recovery Technologies 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.