Kirby McInerney | Antitrust | News & Publications
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  • Cattle Price-Fixing Cases Consolidated in Minnesota
    07/11/2019 | Law360

    A Minnesota federal court ruled Wednesday that some of the country’s largest meatpacking companies, including Tyson and Cargill, will now face consolidated allegations of colluding to drive down prices of cattle used for beef production.

  • Philly And Citibank Resolve Libor-Rigging Claims in MDL
    06/26/2019 | Law360

    Up next on Judge Buchwald’s docket is the distribution agreement of $182 million worth of deals the exchange-based plaintiffs struck with Bank of America, Barclays, Citibank, Deutsche Bank, HSBC and JP Morgan.

  • Citi, JPM Get Nod For $182.5M Euribor Settlement Payout
    05/17/2019 | Law360

    A Manhattan federal judge on Friday approved a $182.5 million settlement between JPMorgan Chase & Co., Citigroup and investors who accuse the two megabanks of rigging a key euro rate, signing off also on a roughly $36 million haul for plaintiffs’ firms that brought the antitrust class action.

  • Cigarette Kickbacks are Burning Small Distributors
    02/26/2018 | New York Post

    The suit was filed last week in Brooklyn state court by several small New York distributors of cigarettes and other candy store items — Amsterdam Tobacco, Donohue Candy, Kingston Candy, Mountain Candy and Sunrise Candy — claiming that bigger out-of-state distributors for years have been allegedly giving kickbacks to stores that buy cigarettes from them.

  • Small cigarette wholesales accuse large companies of violating state tax laws
    02/07/2018 | Timesunion.com

    A lawsuit filed this week accuses five of the state’s largest tobacco wholesalers of giving secret rebates to customers to drive down competition as part of an alleged scheme which may have violated state laws that set minimum prices on cigarettes.

  • Kirby McInerney LLP Announces $19,975,000 “ice-breaker” Settlement with Barclays Bank PLC
    10/08/2014

    In what is aptly described as an “ice-breaker” settlement in the amount of $19,975,000 on behalf of a class of traders of Eurodollar futures and options contracts, which entered transaction on exchanges such as the Chicago Mercantile Exchange, law firm Kirby McInerney LLP has reached a $19,975,000 settlement with Barclays Bank PLC over its unlawful manipulation of U.S. Dollar LIBOR, a key benchmark interest rate.

  • Federal District Court Allows Most of Kirby McInerney’s Exchange-Based Commodities Claims to Proceed
    03/29/2013

    Judge Buchwald in the Southern District of New York issued her memorandum and order in In re LIBOR-Based Financial Instruments Antitrust Litigation, MDL No. 2262, No. 1:11-md-2262-NRB (S.D.N.Y.), the coordinated LIBOR litigation, on motions to dismiss the various actions.

  • The British Government’s Response to LIBOR Manipulation Takes Shape
    Winter 2013 | PERSist

    LIBOR (the “London Interbank Offered Rate”) is the world’s primary benchmark for short-term interest rates, providing the settlement rate for well over $300 trillion in financial products of various types. Despite its importance, it is administered by an unregulated trade association and based on unverified quotes provided by banks whose financial interest is tied to the benchmark.

  • Banks Too Big to Jail? Lawyers Say Lenders above the Law
    12/14/2012 | International Business Times

    The criminal prosecution of investment banks is too difficult to take on, high-profile attorneys have told IBTimes UK, echoing a similar sense of unease that has troubled regulators and lawmakers as they debate the overhaul of the global financial markets.

  • UBS Is Reported to Be Near a Deal on Rate Rigging
    12/02/2012 | New York Times

    UBS, the Swiss banking giant, is close to reaching settlements with American and British authorities over the manipulation of interest rates, the latest case in a multiyear investigation that has rattled the financial industry and spurred a public outcry for broad reform.

  • British Authorities to Announce Changes in Libor Oversight
    09/27/2012 | New York Times

    British authorities are set to announce significant changes to the interest rate at the heart of a recent manipulation scandal as they aim to improve the accuracy and reliability of the benchmark. On Friday, Martin Wheatley, the managing director of Britain​’s Financial Services Authority, will outline plans to increase oversight of the rate-setting process, which underpins more than $350 trillion of financial products like mortgages and student loans.

  • Regulators Try to Beat Clock in Rate Probe
    09/20/2012 | The Wall Street Journal

    U.S. prosecutors are seeking more time to complete their investigation of alleged interest-rate fixing, while banks ensnared in the probe are trying to turn the clock to their advantage as they battle lawsuits claiming damages from rate-rigging.

  • Fund Sues Big Banks, Alleging Libor Harm
    04/20/2011 | The Wall Street Journal

    A Vienna hedge fund alleges that it was harmed in the derivatives market when some of the world’s biggest banks manipulated a key benchmark interest rate, according to a lawsuit filed Friday in New York federal court.

  • Kirby McInerney LLP Files Lawsuit Alleging 13 Banks Fixed Libor Rates
    04/19/2011

    The law firms of Kirby McInerney LLP, Sturman LLC, and Motley Rice LLC announced today that they have filed a class action against 13 global banks on behalf of a number of investors, alleging that the banks colluded to misreport and manipulate Libor rates, thereby harming investors in futures, swaps, and other Libor-based derivative products between January 2006 and June 2009.

  • Kirby McInerney LLP Procures $48 Million Settlement in Unocal Antitrust Litigation
    12/05/2008

    Judge Christina A. Snyder of the U.S. District Court for the Central District of California has granted final approval of a $48 million settlement in a class action suit brought against Union Oil Company of California (now a subsidiary of Chevron Corporation).

  • N.Y. Slams Drug Makers’ Calls To Toss AWP Case
    07/12/2007 | Portfolio Media

    New York officials have asked a federal court to ignore a joint motion to throw out an antitrust case against a slew of drug companies accused of scamming Medicare, scoffing at arguments the case was “too large.”