Antitrust

• Karen Lerner Named to Law360’s 2023 Competition Editorial Advisory Board

  05/03/2023 | Law360

  Kirby McInerney is proud to announce that partner Karen Lerner has been named to Law360’s Competition Editorial Advisory Board for 2023. The advisory board works together to provide feedback to Law360's editors on coverage, providing expert insight on how best to shape future content.

• Co-Managing Partner David Kovel speaks at 22nd Annual Taxpayers Against Fraud Conference on October 26, 2022

  10/27/2022

  Co-Managing Partner David Kovel recently spoke at the 22nd annual Taxpayers Against Fraud (TAF) conference on Wednesday, October 26, 2022. TAF is a non-profit, public interest organization committed to supporting and encouraging whistleblowers who reveal fraud in government and financial markets.

• 10 Kirby McInerney Attorneys recognized on 2022 Super Lawyers and Rising Stars Lists

  10/07/2022

  Thomson Reuters’ Super Lawyers has recognized five KM attorneys as New York Metro Super Lawyers and five as Rising Stars.

• Kirby McInerney Obtains Final Approval of $15.7 Million Settlement in JPMorgan Treasury Futures Spoofing Antitrust Litigation

  06/06/2022

  The law firm of Kirby McInerney LLP is proud to announce that the Hon. Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York has granted final approval of its $15.7 million settlement in In re JPMorgan Treasury Futures Spoofing Litig., No. 1:20-cv-03515 (S.D.N.Y.). 

• Karen Lerner Named to Law360’s 2022 Competition Editorial Advisory Board

  04/25/2022 | Law360

  Kirby McInerney is proud to announce that partner Karen Lerner has been named to Law360’s Competition Editorial Advisory Board for 2022.  The advisory board works together to provide feedback to Law360's editors on coverage, providing expert insight on how best to shape future content.

• Anthony F. Fata, Prominent Plaintiff’s Litigator in Commodities and Securities Litigation, Opens Kirby McInerney’s New Chicago Office - A veteran commodities lawyer at the very top of plaintiffs’ side litigation in Chicago 

  03/15/2022

  Kirby McInerney LLP has added Anthony F. Fata, a leading plaintiffs’ litigator in commodities, securities, and whistleblower matters, as a partner in the firm’s new Chicago office. 

• Big Banks Are Accused Of CDS Market Manipulation Scheme

  07/02/2021 | Law360

  Major Wall Street banks have taken part in a more than decadelong, multibillion-dollar scheme to manipulate the benchmark prices used to value credit default swap contracts at settlement, New Mexico's State Investment Council has alleged in a new proposed antitrust class action.  
   

• Kirby McInerney Appointed to Executive Committee in Precious Metals Futures Spoofing Case Against Bank of Nova Scotia

  10/15/2020

  On October 15, 2020, the Honorable Michael A. Shipp of the United States Court for the District of New Jersey appointed Karen M. Lerner to the Executive Committee in In re Bank of Nova Scotia Spoofing Litigation, 20 Civ. 11059 (D.N.J.).  The case originates from the Bank of Nova Scotia’s alleged price manipulation of gold and silver futures contracts traded on the Commodity Exchange, Inc. over the course of several years, which formed the basis of the bank’s recent settlement with the CFTC and the DOJ for $77.4 million.

• Judge Consolidated JPMorgan Spoofing Suits, Taps Counsel

  10/09/2020 | Law360

  A New York federal judge on Friday consolidated seven proposed class actions alleging JPMorgan Chase has been illegally spoofing the futures market since 2009 and appointed Lowey Dannenberg PC and Kirby McInerney LLP as interim lead co-counsel.

• Kirby McInerney Appointed Co-Lead Counsel in Treasury Futures Spoofing Case Against JPMorgan

  10/09/2020

  Kirby McInerney was appointed as co-lead counsel in In re JPMorgan Treasury Futures Spoofing Litigation, 20 Civ. 03515 (S.D.N.Y.) by the Honorable Paul A. Engelmayer of the United States Court for the Southern District of New York on October 9, 2020. The case concerns the alleged long term manipulation of Treasury Futures that recently contributed to JPMorgan’s recent $920 million settlements with the DOJ, CFTC, and SEC.

• Investors’ $187M Big Bank Deals OK’d In Libor Rigging Case

  03/03/2020 | Law360

  The exchange-based investor class, represented by attorneys at Kirby McInerney LLP and Lovell Stewart Halebian Jacobson LLP, won initial approval of a $187 million settlement with Deutsche Bank, JPMorgan and five other big banks in a complex, multidistrict case claiming that the banks rigged the London Interbank Offered Rate benchmark.

• Roche Cyrulnik, Kirby, Robbins Geller Vie To Lead Bitcoin Suit

  02/10/2020 | Law360

  Kirby McInerney filed a response in support of interim lead counsel motion highlighting the firm’s experience and rigorous investigation regarding the direct impact on proposed class members in both the bitcoin and bitcoin related futures markets.

• Chief Justice launches report on litigation funding and class actions

  01/31/2020 | Irish Legal News

  Kirby McInerney Partner Meghan Summers recently presented a report before the Chief Justice of Ireland. The report, which Ms. Summers co-authored, focuses on how class actions could be implemented in Ireland.

• 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.

• Schwab, Investors Ask 2nd Circ. To Revive Libor Claims

  05/24/2019 | Law360

  Charles Schwab Corp. and investors in financial instruments tied to the London Interbank Offered Rate on Friday urged the Second Circuit to reinstate claims against a slew of banks over their alleged manipulation of the benchmark, arguing they have proper antitrust standing and that the litigation belongs in U.S. federal courts.

• 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.

• 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.

• Arrests Mount In Libor Manipulation Probe

  09/01/2012 | Bloomberg

  Kirby McInerney’s David Kovel talks about the global probes into tampering with the libor rate. He speaks on Bloomberg Television’s “Market Makers.”

• 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.”