09/12/2017 (3) - Laserfiche WebLink

Home Browse Search

BASIC INFORMATION A Court authorized this notice because you have a right to know about a proposed Settlement in this class action lawsuit and about all of your options before the Court decides whether to give final approval to the Settlement. This notice explains the lawsuit, the Settlement, and your legal rights. Judge Naomi Reice Buchwald of the United States District Court for the Southern District of New York is overseeing this case. This litigation has been consolidated within In re LIBOR -Based Financial Instruments Antitrust Litigation, MDL No. 2262, and this Settlement relates to an action referred to as the "OTC Action" because it involves Plaintiffs who entered into over-the-counter ("OTC") financial derivative and non- derivative instruments directly with Barclays or the Non -Settling Defendants. ►o.0#?� Banks on the U.S. Dollar panel (and their affiliates) around the world were sued by a. group of their counterparties ("Plaintiffs") who claim that the banks manipulated the U.S. Dollar LIBOR rate during the financial crisis, artificially lowering the rate for their own benefit. Plaintiffs claim that Barclays and other banks manipulated the U.S. Dollar LIBOR rate, and that, as a result, purchasers did not receive as much interest payments for their U.S. Dollar LIBOR -based instruments from the banks as they should have. Barclays and the Non -Settling Defendants deny these claims and maintain they did nothing wrong. Plaintiffs in the OTC Action have brought (a) antitrust claims under the Sherman Act, (b) breach of contract claims, and (c) unjust enrichment claims against Barclays and the Non_ Settling Defendants. A Settlement has been reached with Barclays, the Settling Bank, and that is why you are receiving this Notice. The Settlement does not impact claims in the lawsuit against the Non -Settling Defendants, and the lawsuit is ongoing. For purposes of the Settlement, the Non -Settling Defendants are (collectively with Barclays, the "Defendants"): • Credit Suisse Group AG; Credit Suisse International; Credit Suisse (USA) Inc. (together, "Credit Suisse"); • Bank of America Corporation and Bank of America, N.A. . (together, "Bank of America"); • JPMorgan Chase & Co. and JPMorgan Chase Bank, NA (together,."JPMorgan Chase"); • HSBC Holdings PLC and HSBC Bank PLC (together, "HSBC"); • Barclays Bank plc; • Lloyds Banking Group PLC ("Lloyds); • WestLB AG and Westdeutsche Ummobilienbank AG (together "WestLB"); • UBS AG ("UBS"); • The Royal Bank of Scotland Group PLC ("RBS"); • Citizens Bank of Massachusetts a/k/a RBS Citizens Bank N.A. ("Citizens Bank"); • Deutsche Bank AG ("Deutsche Bank"); • Citibank NA and Citigroup Inc. (together, "Citibank"); • Cooperatieve Central Raiffeisen Boerenleenbank B.A. ("Rabobank"); • The Norinchukin Bank ("Norinchukin"); • The Bank of Tokyo -Mitsubishi UFJ, Ltd ("Bank of Tokyo"); • HBOS PLC ("HBOS"); QUESTIONS? CALL 1-888- 568-7640 OR VISIT WWW.BARCLAYSLIBORSETTLEMENT.COM -3- P162