NY Court Has Jurisdiction For Rate-Rigging Suit, Funds Say

Law360, New York (July 13, 2017, 4:49 PM EDT) -- Two hedge funds told a New York federal judge in a letter Wednesday that a recent U.S. Supreme Court ruling confirms his court has personal jurisdiction to hear their proposed class action against a slew of foreign and domestic global banking giants over their alleged rigging of Singapore financial benchmarks.

Citing the high court’s Bristol-Myers decision from June, FrontPoint Asian Event Driven Fund LP and Sonterra Capital Master Fund Ltd. urged U.S. District Judge Alvin K. Hellerstein not to dismiss their claims against Barclays PLC, BNP...
To view the full article, register now.