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SIBOR.SG
id: 542, Created by Stan Vick Chase, Scout
SIBOR | SOR Based Derivatives Settlements
Settled
01 January 2007
Class period Start31 December 2011
Class period End20 January 2023
Claim deadlineThe Group of Major Banks agreed to pay up to $155.5 million to settle a securities class action lawsuit to avoid further litigation.
All natural persons and entities who purchased, sold, held, traded, or otherwise had any interest in SIBOR- and/or SOR-Based Derivatives during the period from January 1, 2007, through December 31, 2011, may be intitled to the settlement.
Alleged Offence
Other
Suspected Party
Other
Security Type
Interest Rate
Trade Direction
Long
Case number
1:16-cv-5263 (AKH)
Lead plaintiff
Fund Liquidation Holdings LLC
Attorney
LOWEY DANNENBERG, P.C.
Defendants
Citibank, N.A. and Citigroup Inc., JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A., ING Bank N.V., Deutsche Bank AG, The Hongkong and Shanghai Banking Corporation Limited, Credit Suisse AG, Australia and New Zealand Banking Group, Ltd., Bank of America, N.A., Barclays Bank PLC, BNP Paribas, S.A., Commerzbank AG, Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, The Royal Bank of Scotland plc, Standard Chartered Bank, UBS AG, and United Overseas Bank Limited
Court
Southern District of New York
Judge
Hon. Alvin K. Hellerstein
Administrator
A.B. Data Ltd
Court hearing date
29 November 22
Exclusion deadline
31 October 2022
Objection deadline
31 October 2022
Hearing deadline
17 October 2022
+$155,458,000
Total Settlement Amount