Credit Default Swap Class Action Settlement
You are a member of the class if you are a person or entity who purchased credit default swaps from or sold CDS to the defendants, their affiliates or a purported co-conspirator in any Covered Transaction during the period of Jan. 1, 2008 through Sept. 25, 2015.
Under the terms of the class action settlement, a Covered Transaction is defined as follows:
“A purchase or sale of CDS shall be deemed to be a ‘Covered Transaction’ in each of the following circumstances: (i) if the purchase or sale was by or on behalf of a Person either domiciled or located (e.g., had a principal place of business) in the United States or its territories at the time of such purchase or sale; (ii) if the Person was domiciled and located outside the United States and its territories at the time of any such person or sale, where such purchase or sale was in United States commerce; or (iii) where such purchase or sale otherwise falls within the scope of the U.S. antitrust laws.”
Proof of Purchase
ID Control Number
If you do not have your Claimant ID and Control Number, contact the Settlement Administrator at 1-888-744-0531.
In re: Credit Default Swaps Antitrust Litigation
Case No. 1:13-md-02476-DLC,
District Court for the Southern District of New York
Several financial institutions decided to settle this antitrust lawsuit which alleges that they engaged in anticompetitive acts affecting the price of credit default swaps in violation of federal antitrust laws.
The defendants involved are as follows:
- Bank of America Corporation
- Bank of America NA
- Barclays Bank PLC
- BNP Paribas
- Citigroup Inc.
- Citibank NA
- Citigroup Global Markets Inc.
- Credit Suisse AG
- Deutsche Bank AG
- Goldman Sachs & Co.
- HSBC Bank PLC
- HSBC Bank USA NA
- JPMorgan Chase & Co.
- JPMorgan Chase Bank NA
- Morgan Stanley & Co. LLC
- Royal Bank of Scotland PLC
- Royal Bank of Scotland NV
- UBS AG
- UBS Securities LLC
- International Swaps and Derivatives Association
- Markit Group Holdings Ltd.
- Markit Group Ltd.
The defendant denies the allegations but has agreed to settle to avoid the uncertainty and expenses associated to a long trial