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Iowa Public Employees' Retirement System et al v. Merrill Lynch, Pierce, Fenner & Smith Inc et al

  1. February 10, 2025

    Merrill Lynch Objects To New Discovery Bid In Stock Loan Suit

    Merrill Lynch told a New York federal court it should deny investors' request for supplemental transaction data in their suit alleging major banks colluded to avoid modernizing the stock loan market, arguing that the discovery period has closed, and there are no legitimate reasons to grant the "burdensome" request.

  2. December 06, 2024

    Merrill Lynch Can't Beat Stock Loan Class Cert. Bid

    A New York federal judge on Friday overruled objections from Bank of America unit Merrill Lynch to certify a class of investors, with a slightly extended class period, in a suit alleging the financial institution colluded with other major banks to avoid modernizing the stock loan market.

  3. September 12, 2024

    Quinn Emanuel, Cohen Milstein Get $102M In Stock Loan Case

    A judge awarded $102 million in attorney fees to Quinn Emanuel Urquhart & Sullivan LLP and Cohen Milstein Sellers & Toll PLLC for settling claims from investors that major banks colluded to avoid modernizing the stock loan market.

  4. May 09, 2024

    Attys Want $102M In Fees In Stock Loan Antitrust Deal

    Quinn Emanuel Urquhart & Sullivan LLP and Cohen Milstein Sellers & Toll PLLC attorneys asked for $102 million in fees for settling claims from investors that major banks colluded to avoid modernizing the stock loan market, saying the long and complex nature of the case warrants the payout.

  5. September 01, 2023

    Banks' $500M Stock Loan Antitrust Deal Gets Initial OK

    A New York federal judge granted preliminary approval Friday to a nearly $500 million deal settling claims by investors that major banks including JPMorgan Chase, Morgan Stanley, Goldman Sachs and Credit Suisse colluded to avoid modernization of the stock loan market.

  6. August 23, 2023

    5 Financial Institutions Ink $500M Stock Loan Antitrust Deal

    Investors who have accused major banks of colluding to thwart modernization of the trillion-dollar stock loan market asked a New York federal judge Wednesday to greenlight a nearly $500 million settlement reached with JPMorgan, Morgan Stanley, Goldman Sachs and two other lending institutions.

  7. August 04, 2023

    2 Big Banks Are Eyeing Exit In Stock Loan Antitrust Suit

    JPMorgan Chase and Morgan Stanley have reached tentative agreements to settle out of a proposed antitrust class action accusing them and other big banks of colluding to thwart modernization of the trillion-dollar stock loan market, according to regulatory filings.

  8. September 13, 2022

    Big Banks Slam Class Cert. Nod In Stock Loan Antitrust Suit

    Major banks including JPMorgan and Goldman Sachs have slammed a federal magistrate judge's recommendation for the partial certification of a proposed class of investors accusing them of colluding to kill competition in the stock loan market, arguing the judge "abrogated the court's responsibility to rigorously analyze the evidence."

  9. July 01, 2022

    Judge Says Stock Loan Antitrust Class Should Be Certified

    A federal magistrate judge has called for the partial certification of a proposed class of investors who accused major banks including JPMorgan and Goldman Sachs of colluding to kill competition in the stock loan market, saying that the class meets all the necessary requirements, but the class period should not be expanded.

  10. February 11, 2022

    Credit Suisse To Pay $81M To Exit Stock Loan Antitrust Suit

    Credit Suisse has agreed to pay investors $81 million to be the first bank to exit a putative New York federal court class action accusing banks of colluding to kill competition in the stock loan market, the investors said in a bid for preliminary approval of the so-called icebreaker deal Friday.

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