PRELIMINARY TIMELINE OF NOTICE – MAIL NOTICES SCHEDULED TO BEGIN OCTOBER 2017
On June 1, 2017, the 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, the 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: https://frtservices.com/wp-content/uploads/2017/06/FX_Court-Letter-preliminary-timeline-of-notice.pdf
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
FOR MORE INFORMATION
- FX Case Spotlight
- Whitepaper: Antitrust – The Evolving Fiduciary Landscape
- Whitepaper: 2016 Year In Review – Global, Antitrust and U.S. Securities Class Action
- FX Video: FX update – August 2016
- FX Video: FX update – September 2016
- FX FAQ: How do I know whether I’m eligible for recovery?
- FX FAQ: When is the claims administration process likely to begin?
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