In Re: Credit Default Swaps Antitrust Litigation
www.CDSAntitrustSettlement.com

Overview

THE DEADLINE TO FILE A CLAIM, AS WELL AS TO SUBMIT ADDITIONAL CLAIMS INFORMATION SUCH AS ADDITIONAL TRANSACTIONS FOR CONSIDERATION, PASSED ON MAY 27, 2016 at 11:59 PM EDT.

Overview

“CDS” means any and all types of credit default swap(s) and CDS-based products, including, without limitation, single-name CDS, CDS on corporate, sovereign and municipal reference entities, tranche CDS, basket CDS, index CDS, and CDS futures. A “CDS Transaction” means (i) any purchase, sale, trade, assignment, novation, unwind, termination, or other exercise of rights or options with respect to any CDS, whether executed over-the-counter or via inter-dealer brokers, a centralized clearinghouse, a central limit order book, an exchange, a swap execution facility, or any other platform or trading facility; or (ii) any decision to withhold a bid or offer on, or to decline to purchase, sell, trade, assign, novate, unwind, terminate or otherwise exercise any rights or options with respect to any CDS.

This website is to alert you to settlements reached with defendants Bank of America Corporation and Bank of America, N.A.; Barclays Bank PLC; BNP Paribas; Citigroup Inc., Citibank, N.A., and Citigroup Global Markets Inc.; Credit Suisse AG; Deutsche Bank AG; Goldman, Sachs & Co.; HSBC Bank PLC and HSBC Bank USA, N.A.; JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A.; Morgan Stanley & Co. LLC; Royal Bank of Scotland PLC and Royal Bank of Scotland N.V.; UBS AG and UBS Securities LLC (collectively, “Dealer Defendants”); International Swaps and Derivatives Association (“ISDA”); Markit Group Holdings Ltd. and Markit Group Ltd. (“Markit”) (collectively, “Defendants”) in a class action.

The lawsuit alleges that Defendants engaged in anticompetitive acts that affected the price of CDS in violation of Section 1 of the Sherman Act, 15 U.S.C. § 1. The lawsuit also alleges that Defendants were unjustly enriched under common law by their anticompetitive acts. The lawsuit was brought by, and on behalf of, purchasers or sellers of CDS. The Defendants deny they did anything wrong.

Settlements have been reached with all Defendants. Defendants have collectively agreed to pay $1,864,650,000 (“Settlement Fund”).

Update

Payment was issued to all eligible class members on December 28, 2016. A second distribution, consisting of funds held in reserve plus interest earned thereon and exclusive of administrative expenses, will take place in the summer of 2017. This second and final distribution, which will be sent to all eligible class members who did not receive full payment in the first distribution, will require Court approval before it can be initiated. This website will be updated when an exact date of the second distribution is known, and the Administrator will send an automated email to the email address of record for all class members receiving payment a few days in advance of the distribution, with information on award amount. No information on award amounts for the second distribution will be provided prior to this automated email. If you would like to confirm the current email address of record for a class member, please log into the portal.

What Are Your Options?

YOUR LEGAL RIGHTS AND OPTIONS IN THESE SETTLEMENTS
Submit a Claim Form The deadline to submit a Claim Form passed on May 27, 2016. If a Claim Form was not submitted electronically or postmarked by the deadline, you will not receive a cash payment.
Exclude Yourself or “Opt Out” of the Settlements If you timely and properly excluded yourself, you will not receive a settlement payment. This is the only option that allows you to pursue any other lawsuit against Defendants about the legal claims in this case. The deadline to exclude yourself from the Settlements has passed.
Comment or Object Your comment or objection must have been filed with the Clerk of Court, and postmarked by the deadline to be considered by the Court. The deadline to object to the Settlements has passed.
Go to the Fairness Hearing The Fairness Hearing was held on April 15, 2016.
Do Nothing If you do nothing, you will not get any money from these settlements and will give up your right to sue Defendants separately about the legal issues in this case.

Please see the Class Notice for additional detail.

This website will be updated as additional information becomes available. Please check back periodically for important updates regarding the Settlements.