Antitrust Case Spotlight: LIBOR Eurodollar
This settlement addresses the Exchange-Based Plaintiffs, who transacted in Eurodollar futures contracts and options on Eurodollar futures, for suing various banks claiming that the banks individually and collectively manipulated U.S. Dollar LIBOR to benefit their trading positions and engaged in the suppression of LIBOR.
Passive Group Litigation Case Spotlight: AMP Limited
The case against AMP was one of the first to come out of the Royal Commission Investigation into Misconduct in the Banking, Superannuation and Financial Services industry. This was a very popular action as five separate, competing shareholder class actions were commenced against AMP Limited in 2018 – one in the Supreme Court of New South Wales and four in the Federal Court. The unprecedented battle that followed to book-build resulted in possibly the lowest fees for participating shareholders in AU history with fees getting as low as 10% of shareholder recoveries.
Monitoring Opt-Out Global Opportunities with a Holistic View
In the past few years we’ve seen a significant increase in the number of institutional investors opting out of class actions to pursue claims directly. This reflects a belief that doing so will return more than remaining in the class. While resolutions of direct claims are private, this seems borne out by the experiences of our clients and based on discussions with opt-out counsel about their success rates. However, at times there can be too much of a good thing.