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FrontPoint Asian Event Driven Fund, Ltd. et al v. Citibank, N.A. et al

  1. December 21, 2022

    The Largest Securities Settlements Announced In 2022

    From a billion-dollar deal in Delaware to a hard-fought battle over a bribery scandal involving Ohio's legislature, securities litigators secured big settlements this year that sprang from both class actions and derivative suits, with a high number of resolutions occurring in Delaware Chancery Court.

  2. December 02, 2022

    Attys' $39M Fee Bid Granted In Interest Rate Case

    The Lowey Dannenberg PC attorneys who brokered a $91 million settlement of investor claims that 13 major banks manipulated two Singapore interest rate benchmarks will receive nearly $38.9 million from the overall $155 million settlement fund for their work on the case, a Manhattan federal judge has decided.

  3. October 11, 2022

    Investors' Attys Want $39M After Big Banks' Sibor Deal

    Following a $91 million settlement with 13 major banks accused by investors of conspiring to manipulate two Singapore interest rate benchmarks, counsel for those investors have asked a New York federal judge for $38.9 million in fees for what they called a "complex and risky case."

  4. May 31, 2022

    Big Banks Settle Rest Of Sibor Price-Fixing Case For $91M

    Bank of America, Barclays and 11 other major banks have agreed to pay $91 million as part of a proposed investor class action settlement that would cap off New York federal court litigation alleging a multi-bank conspiracy to manipulate two key Singapore interest rate benchmarks.

  5. May 17, 2022

    6 Banks And Counting Settle Sibor Price-Fixing Case For $65M

    Credit Suisse, Deutsche Bank, HSBC and ING Bank have added their names to the list of major banks settling out of the recently-revived class action accusing financial institutions of conspiring to fix rates in the Singapore market, according to a filing Friday teasing a full settlement soon.

  6. July 26, 2019

    Sibor Price-Fixing Suit, Related $21M Settlement Tossed

    A New York federal court on Friday dismissed a suit accusing a slew of financial institutions of conspiring to fix interbank rates in the Singapore market, finding that the company behind the suit did not have the right to bring such claims and that a related $21 million settlement should be tossed.

  7. November 16, 2018

    BofA, Deutsche Bank Say Sibor-Rigging Suit Falls Short

    Bank of America, Deutsche Bank and other financial institutions asked a New York federal court Friday to toss a suit accusing them of conspiring to manipulate the Singapore Interbank Offered Rate, saying the plaintiffs failed to plausibly allege a conspiracy and that their antitrust claims are barred by the statute of limitations.

  8. November 15, 2018

    Citibank, JPMorgan Chase Ink $21M SIBOR Rigging Suit Deal

    CitiGroup Inc. and JPMorgan Chase & Co. have agreed to pay nearly $21 million to escape a putative class action over an alleged conspiracy to manipulate the Singapore Interbank Offered Rate, the plaintiffs said in a motion to preliminarily approve the deal in New York federal court Thursday.

  9. November 05, 2018

    Funds Fight Chinese Bank's Venue Bid In SIBOR Rigging Suit

    Sonterra Capital Master Fund Ltd. and FrontPoint Asian Event Driven Fund LP have urged a New York federal court to reject a Chinese bank's arguments that it is not subject to U.S. jurisdiction and its interlocutory appeal in a suit accusing it and other banks of rigging a key Southeast Asian interest rate.

  10. October 19, 2018

    Singapore Banks Seek Redo On SIBOR Rigging Escape Bid

    A group of Singapore-based banks, along with one based in Hong Kong, urged a New York federal judge on Thursday to reconsider a ruling that kept them in a suit over an alleged conspiracy to manipulate the Singapore Interbank Offered Rate, arguing that they don't trade in the instruments at issue.

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