An annual meeting of top in-house lawyers for some of the world’s most powerful banks focused on class action attorneys looking for billion-dollar payouts over alleged market manipulations. The takeaway? Hang together and don’t settle so quickly, or so sources told Bloomberg.
The meeting took place in May at the Trianon Palace Versailles, although locations vary from year to year. Robert Mundheim, once a general counsel for the U.S. Department of Treasury and now with Shearman & Sterling, spearheaded the meetings which have been held now for nearly two decades, according to a source. That source also told Bloomberg that Mundheim decides which bank attorneys can attend.
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