Investors Seek Class Cert. In Rate-Swap Antitrust MDL

Law360 (March 8, 2019, 6:02 PM EST) -- The institutional investors leading a sprawling multidistrict litigation against 11 megabanks that allegedly colluded to control the interest rate swaps market asked a New York federal judge on Thursday to certify a class of investors who did swaps deals with the banks over the last six years.

The certification bid, which requests the appointment of Quinn Emanuel Urquhart & Sullivan LLP and Cohen Milstein Sellers & Toll PLLC as class counsel, says evidence obtained during discovery thus far firmly supports allegations that the banks conspired to block startup trading platforms from entering the market.

The conspiracy let the banks maintain an...

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