Lowey Wins $22 Million Settlement for Investors in Swiss Franc LIBOR

by | Aug 17, 2017 | Homepage, News | 0 comments

In August 2017, Lowey Dannenberg negotiated a $22 million settlement with JPMorgan Chase & Co. for U.S. investors who traded in or held derivatives tied to the Swiss franc London Interbank Offered Rate (Swiss franc LIBOR). In litigation filed in 2015, Plaintiffs alleged a conspiracy against some of the world’s largest financial institutions to for colluding and manipulating the Swiss franc LIBOR derivatives market. Certain Defendants also settled with global regulators, paid billions in fines and were granted leniency by the European Commission for alleged anti-competitive conduct in the Swiss Franc LIBOR and Swiss Franc LIBOR derivatives market. Litigation is ongoing against the remaining Defendants.

The case is pending against the Honorable Judge Sidney H. Stein.

Sonterra Capital Master Fund Ltd. v. Credit Suisse Group AG et al., Case No. 15-cv-0871 (S.D.N.Y.).