Commodities

• 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.

• 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. 

• 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 McInerney Bid For Lead In Bitcoin Suit

  01/28/2020 | Law360

  Kirby McInerney filed a motion for interim lead counsel in the recently consolidated case in the Southern District of New York, highlighting the firm’s in-depth pre-filing investigation of market participants in consultation with experienced experts.

• Quartet of Bitcoin Manipulation Cases Consolidated in SDNY

  01/27/2020 | Law360

  The Southern District of New York consolidated a case brought by Kirby McInerney and three others that all concern the manipulation of Bitcoin prices by cryptocurrency companies, costing investors hundreds of billions of dollars. 

• 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.

• J.P. Morgan Chase precious metals markets rigging lawsuit paused

  12/05/2018 | CNBC

• JPMorgan Pushes Back On Depo Bid In Silver Trading Suit

  11/27/2018 | Law360

• How Ex-JP Morgan Silver Traders Guilty Plea Could Boost Manipulation Suit

  11/13/2018 | CNBC

• Hess, Mercuria Units Added to Brent Crude Price-Fixing Lawsuit

  04/20/2014 | Bloomberg News

  Mercuria Energy Group Ltd. and Hess Corp. (HES:US)’s oil trading businesses were added to a lawsuit claiming they conspired with companies including BP Plc (BP), Statoil ASA (STL) and Royal Dutch Shell Plc (RDSA) to manipulate Brent crude oil prices.

• Daniel Shak Settles with CFTC

  03/30/2014

  Kirby McInerney LLP’s client, Daniel Shak, has agreed to settle with the Commodity Futures Trading Commission (CFTC) over claims he traded during the closing minute in the gold futures market. Mr. Shak admitted to accidentally trading a 2-lot of gold 14 seconds into the closing range after he had agreed not to trade during that period under a prior CFTC order.

• Brent Crude Traders Claim Proof BFOE Boys Rigged Market

  11/06/2013 | Bloomberg.com

  Four longtime traders in the global oil market claim in a lawsuit that the prices for buying and selling crude are fixed — and that they can prove it.

• 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.

• 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.”