Dennis et al v. JPMorgan Chase & Co. et al, 1:16-cv-06496-LAK

On August 16, 2016, the Firm filed a class action alleging that numerous banks and brokers manipulated the Bank Bill Swap Reference Rate (“BBSW”) from at least January 1, 2003 through the date on which the effects of Defendants’ unlawful conduct ceased. Dennis et al v. JPMorgan Chase & Co. et al, 16-cv-06496. Plaintiffs allege claims on behalf of a class of persons defined as follows: “All persons or entities that engaged in U.S.-based transactions in financial instruments that were priced, benchmarked, and/or settled based on BBSW at any time from at least January 1, 2003, through the date on which the effects of Defendants’ unlawful conduct ceased.”

BBSW-based derivatives, include, for example (i) BBSW-based swaps; (ii) BBSW-based forward rate agreements; (iii) Australian dollar futures contracts; (iv) Australian dollar foreign exchange forwards; and (v) 90-day Bank Accepted Bill futures contracts.

For further information, contact Ed Kroub, Esq. (EKroub@lshllp.com).