Sullivan v. Barclays PLC et al., No. 13-cv-2811

On December 19, 2018, the Honorable P. Kevin Castel preliminarily approved Plaintiffs’ proposed settlement with Defendants Citigroup Inc. and Citibank, N.A. (collectively “Citi”) and JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A. (collectively, “JPMorgan”).  Pursuant to this settlement, JPMorgan and Citi have agreed to pay $182,500,000 and provide significant documentary cooperation. Plaintiffs allege that Citi, JPMorgan, and other defendants manipulated the prices of certain Euribor-based derivatives and financial instruments that reference Euribor. 

The definition of the Settlement Class with Citi and JPMorgan is: All Persons who purchased, sold, held, traded or otherwise had any interest in Euribor Products from June 1, 2005 through and including March 31, 2011, who were either domiciled in the United States or its territories or, if domiciled outside the United States or its territories, transacted in Euribor Products in the United States or its territories from June 1, 2005 through and including March 31, 2011, including, but not limited to, all Persons who traded CME Euro currency futures contracts, all Persons who transacted in NYSE LIFFE Euribor futures and options from a location within the United States, and all Persons who traded any other Euribor Product from a location within the United States. Excluded from the Settlement Class are the Defendants and any parent, subsidiary, affiliate or agent of any Defendant or any co-conspirator whether or not named as a defendant, and the United States Government.

Class members should follow the settlement website (http://www.euriborsettlement.com/) for more information.  Lovell Stewart is Co-Lead Counsel for the Class. Please contact Benjamin M. Jaccarino, Esq. (bjaccarino@lshllp.com) for more information.