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November 06, 2023
Major banks have urged a New York federal court to come to their rescue against a proposed investor class action in New Mexico that accuses them of conspiring to rig credit default swap auctions, arguing the suit is mostly, if not entirely, barred by a previous $1.86 billion settlement of a decade-old antitrust case.
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December 14, 2016
Investors claiming major banks rigged the credit-default swaps market have urged a New York federal court to reject a class member's bid for a larger share of the $1.86 billion settlement, arguing the firm unfairly inflated the value of its deals affected by the alleged plot.
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December 12, 2016
A class member from a suit alleging Citigroup, Goldman Sachs, JPMorgan and 11 others rigged the credit-default swaps market urged a New York federal court Friday to reconsider rejecting thousands of CDSs worth about $481 billion that the member sought compensation for under a settlement fund.
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November 29, 2016
A pair of class members from the suit alleging Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co. and 11 other market participants rigged the credit-default swaps market asked a New York federal court to reconsider the distribution of the $1.86 billion settlement, saying the settlement administrator wrongly disallowed nearly $1.7 trillion of their transactions.
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October 29, 2015
A New York federal judge on Thursday granted preliminary approval to a $1.86 billion settlement in a class action alleging Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co. and 11 other market participants rigged the credit-default swaps market.
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October 01, 2015
Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc. and 11 other market participants on Thursday officially signed off on a $1.86 billion settlement in a class action alleging that they rigged the credit default swaps market, attorneys for the plaintiffs announced.
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September 11, 2015
A $1.865 billion deal is near in litigation accusing 12 financial giants, including Bank of America Corp., Barclays PLC and Goldman Sachs & Co., of rigging the credit default swaps market, a plaintiff's lawyer told a Manhattan federal judge Friday, calling it one of the largest private antitrust class action deals ever but cautioning the sides need time for finalization.
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September 18, 2014
A New York federal judge overseeing a consolidated class action against banks accused of rigging the credit default swaps market approved a joint case management plan on Thursday that, among other things, requires defendants to share what they have told U.S. and European authorities probing the derivatives sector.
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September 04, 2014
A New York federal judge on Thursday largely upheld a consolidated class action accusing Bank of America Corp., JPMorgan Chase & Co. and a slew of other banks of colluding to rig the price of credit default swaps, finding the plaintiffs had sufficiently pled injury and plausibly alleged the existence of an antitrust conspiracy.
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November 27, 2013
The International Swaps and Derivatives Association returned fire at Quinn Emanuel Urquhart & Sullivan LLP in New York federal court Wednesday, bashing the law firm's attempt to dodge a disqualification in a group of class actions over whether the association and several banks worked together to rig credit default swap markets.