Foreign Exchange Antitrust Litigation
U.S. District Court for the Southern District of New York
Case No. 1:13-cv-7789-LGS

Overview

Current Status

On November 19, 2020, the United States District Court for the Southern District of New York approved the Notice of Certified Litigation Class. These documents can be found on the Important Documents page. The deadline to opt out of the Litigation Class is February 17, 2021.

On September 3, 2019, the Court issued an order pursuant to Fed. R. Civ. P. 23(c)(4)(A) certifying a litigation class for purposes of trial on two issues: (1) whether a conspiracy existed to widen spreads in the spot market, and (2) if the Credit Suisse (CS) Defendants participated in the conspiracy. The Court’s order is available here.

IF YOU ENTERED INTO AN FX INSTRUMENT BETWEEN DECEMBER 1, 2007 AND DECEMBER 31, 2013, YOU MAY BE AFFECTED BY THE LITIGATION CLASS CERTIFICATION.

PLEASE READ THIS WEBSITE CAREFULLY, AS MEMBERSHIP IN THE LITIGATION CLASS MAY AFFECT YOUR LEGAL RIGHTS AND PROVIDE YOU POTENTIAL BENEFITS. THIS IS NOT INFORMATION OF A LAWSUIT AGAINST YOU.

Overview

The purpose of this website is to inform you of the Certified Litigation Class in the case “In re Foreign Exchange Benchmark Rates Antitrust Litigation,” Case No. 1:13-cv-7789-LGS.

It is important to note that you may have been a member of the Settlement Classes but are not a member of the Litigation Class.

The Settlement Classes included class members who traded fewer than ten times, traded on multi-bank platforms, and who traded FX Exchange-Traded Instruments, such as FX futures and options on FX futures. The class period for the settlements was from January 1, 2003 to December 15, 2015.

The Litigation Class only includes class members who traded ten or more times; traded FX spot, forward, and/or swap transactions; traded through voice or single-bank platforms; and traded in 52 identified currency pairs. Exchange-traded instruments, such as FX futures contracts or options on FX futures, are not included. Transactions in which the class member provided liquidity to the Defendant are not included. Transactions in currencies other than the 52 Affected Currency Pairs are not included. The 52 Affected Currency Pairs can be found on the Frequently Asked Questions page. Transactions that resulted from resting orders are not included. Transactions at benchmark rates are not included. Transactions between a Defendant’s foreign desk and a U.S. domiciliary operating abroad are not included.

Please see the Detailed Notice for additional detail. This website will be updated as additional information becomes available. Please check back periodically for important updates regarding the trial.


What Are Your Options?

YOUR LEGAL RIGHTS AND OPTIONS IN THIS ACTION
DO NOTHING You are automatically part of the Litigation Class if you fit the Litigation Class description. By remaining in the Litigation Class, you will receive the benefit of any determinations against the CS Defendants on the Threshold Issues to be tried in this Action, but you will be bound by any determinations that the CS Defendants did not violate the federal antitrust laws. The Litigation Class will not receive any monetary recovery as a result of the class trial. If the Threshold Issues are decided in favor of the Litigation Class at trial, then a class member may only recover monetary damages from the CS Defendants if he/she/it brings an individual action. You will not be able to exclude yourself from any future class settlements.
EXCLUDE YOURSELF

If you wish to exclude yourself from the Litigation Class, you must submit a written request by February 17, 2021. If you exclude yourself, you will not be bound by future decisions of the Court, including any determinations at trial on the Threshold Issues. You will not be able to participate in any future class settlements.

You can exclude yourself by sending a written “Request for Exclusion” to the Notice Administrator by February 17, 2021. A Request for Exclusion must: (i) be in writing; (ii) be signed by the person (defined as the individual or entity holding the claim) or his, her, or its authorized representative; (iii) state the name, address, and phone number of that person; and (iv) include a signed statement that “I/we hereby request that I/we be excluded from the certified Litigation Class in the In re Foreign Exchange Benchmark Rates Antitrust Litigation” or the substantive equivalent.

You cannot exclude yourself by telephone or email. You must do so in writing by mail. To be valid, your Request for Exclusion mailed to the following address and postmarked by February 17, 2021:

In re Foreign Exchange Benchmark Rates Antitrust Litigation c/o Epiq Global P.O. Box 10239 Dublin, OH 43017-5739

A Request for Exclusion that does not include all of the foregoing information, does not contain the proper signature, is sent to an address other than the one designated above, or is not sent within the time specified will be deemed invalid and the person(s) filing such an invalid request will remain a member of the Litigation Class and will be bound by any rulings of the Court regarding the Threshold Issues.