Competition Law360 provides breaking news and analysis on antitrust law. Coverage includes high-stakes antitrust litigation and government enforcement actions, as well as legislative and regulatory developments.
A New York federal judge on Tuesday trimmed a putative class action brought by investors who say they lost money in derivatives transactions because big banks conspired to manipulate Euribor, the euro interbank offered rate. But two plaintiffs, including a California retirement fund, still have claims against JPMorgan and Citigroup.
Purchasers of the Lidoderm pain patch won class certification in an antitrust multidistrict litigation against Endo Pharmaceuticals and others on Tuesday when a California federal judge found that both direct purchasers and end-payors proved that common injuries with alleged delays of a generic version of the drug.
A North Carolina federal judge on Monday threw out a former doctor’s antitrust suit against the state medical board and its members alleging they conspired to get him out of the Lyme disease treatment market, ruling that they’re immune from such a suit.
Citibank will pay about $5.3 million to settle with South Africa’s Competition Commission after it was accused of colluding with 15 other banks to rig prices in currency trading involving the rand and U.S. dollar as part of the so-called foreign exchange trading cartel, the commission said Tuesday.
A former Japanese yen derivatives trader for Dutch lender Rabobank, who was the first to plead guilty to participating in a conspiracy to manipulate the yen London Interbank Offered Rate, asked a Manhattan federal judge on Tuesday for a noncustodial sentence due to his “superlative” cooperation.