In May 2018, Lowey Dannenberg received final approval for a $309 million deal to resolve claims it brought on behalf of a class of investors who purchased financial instruments against defendants Deutsche Bank AG, Barclays PLC and HSBC Holdings PLC in a massive Euribor fixing conspiracy. In complex litigation before the Honorable P. Kevin Castel, spanning over 5 years, Plaintiffs alleged that between 2005 to 2011, the defendant banks illegally conspired to manipulate & fix Euribor, a benchmark used in setting the interest rates charged on short-term loans between large financial institutions. Lowey continues to litigate the case against the remaining Defendants in the Southern District of New York.
