Today, one of the plaintiff attorneys accusing some of the world's largest financial institutions, including Bank of America Corp.,Barclays PLC and Goldman Sachs Group Inc., of rigging the credit default swaps market, said the parties are near a settlement but need more time to finalize the deal. The attorney called the pending agreement one of the largest private antitrust class action deals ever should it be consummated in an antitrust action.
The presiding judge set a May 2017 trial date in the event the settlement falls through. Other institution including Deutsche Bank AG, JPMorgan Chase & Co. and UBS AG are among the other defendants in the pending litigation.
The case is In re: Credit Default Swaps Antitrust Litigation, case number 1:13-md-02476, in the U.S. District Court for the Southern District of New York.
The experienced securities litigation attorneys at Colling Gilbert Wright & Carter have litigated and resolved hundreds of FINRA arbitration claims. If you believe you lost money due to negligence or fraud on the part of your FINRA registered broker dealer, please contact us for a free case evaluation.