Law360 Reports on Major Milestone in Proposed Investor Class Action Against Big Wall Street Banks Led by New Mexico Attorney General06/06/2023 | LAW360
Law360 has published an article discussing a major positive decision for plaintiffs in In re: Credit Default Swaps Auctions Litigation, 1:21-cv-00606 (D.N.M.), a class action alleging major banks took part in a more than decade-long, multibillion-dollar scheme to manipulate the benchmark prices used to value credit default swap contracts at settlement. On Monday, U.S. District Judge Kenneth Gonzales ruled to allow a class led by the New Mexico State Investment Council to proceed with claims under the Sherman Act and Commodity Exchange Act against major credit default swap (CDS) dealers including Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley and NatWest.
The New Mexico State Investment Council is represented by the Office of the New Mexico Attorney General, David E. Kovel, Karen M. Lerner, Andrew M. McNeela, Thomas L. Popejoy and Anthony E. Maneiro of KM, as well as co-counsel Gilbert LLP and Berger Montague.
Read the full article at the link below.