At the end of June, additional settlements totaling $96 million were reached with five additional defendants in the ISDAfix antitrust class action litigation – read our case update here. A deadline of December 23, 2018 has been set for filing a claim in this second settlement pool.
As mentioned in our case spotlight (link), this class action settlement resolves allegations that Defendants engaged in anticompetitive acts, manipulating the ISDAfix rates, the benchmark used to set the terms for swap transactions between Jan. 1, 2006 and Jan. 31, 2014.
The deadline for the previous settlement amount of $408 million was July 16, 2018 – however Class Counsel may continue to accept claims until October 13, 2018.
With another $550 million to be distributed in the coming months from other settled antitrust class actions and 50+ cases in litigation (click here to request a copy of our antitrust pipeline), fiduciaries should be implementing systems for filing claims in these matters. While claim filing in this area can be challenging, FRT has developed efficient processes to maximize recoveries while minimizing client efforts.
Contact FRT at firstname.lastname@example.org to leverage our experience and technology to help you through the process.
Important dates and deadlines
- Settlement Class Period: January 1, 2016 – January 31, 2014
- December 23, 2018*: Claims Filing Deadline – deadline for submitting Claim Forms
- November 8, 2018: Fairness Hearing
- October 13, 2018: Opt-Out Deadline
* Late filing deadline for previous settlement: October 13, 2018
- Case Spotlight: ISDAfix antitrust class action another example of market rate manipulation
- Lessons Learned from the $500+ Million ISDAfix Antitrust Case
- Forex Antitrust Case’s Projected Recovery Rate is Estimated to be 94%-123% – Three Reasons Why This Should Matter to Investors
- What’s after FOREX? ISDAfix, Euribor, and several other antitrust class action settlements with money already in escrow
- Antitrust Class Action: The Road Ahead
U.S. CLAIMS I GLOBAL GROUP LITIGATION I ANTITRUST I LITIGATION MONITORING I BUYOUTS
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.
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