The Daniel Patrick Moynihan U.S. Courthouse in the Southern District of New York, at 500 Pearl St. (Credit: Ryland West/ALM) $499 Million: Big Banks, EquiLend Reach Settlement in Antitrust Class Action
Litigation is expected to continue against Bank of America, which is not a party to the settlement. Credit Suisse, another defendant in the case, reached an $81 million settlement in 2022.
August 24, 2023 at 12:41 PM
3 minute read
A group of major financial institutions is set to pay $499 million to investors as part of a proposed settlement agreement in an antitrust class action suit in the Southern District of New York, according to a motion for preliminary approval filed Wednesday.
The agreement between Goldman Sachs, JPMorgan, Morgan Stanley, UBS, EquiLend and the plaintiffs, who are represented by Quinn Emanuel Urquhart & Sullivan and Cohen Milstein Sellers & Toll, also calls for governance changes at EquiLend.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Second Circuit Upholds $5M Judgment Against Trump in E. Jean Carroll Case
4 minute read
Art of the Settlement: Trump Attorney Reveals Strategy in ABC Lawsuit
Trump, ABC News Settlement in Defamation Lawsuit Includes $1M in Attorney Fees For President-Elect
Trending Stories
- 1Top 10 Predictions for the Legal Technology Job Market in 2025
- 2FTC's Info Security Action Against GoDaddy Sends 'Clear Signal' to Web Hosting Industry: Expert
- 3Data Disposition—Conquering the Seemingly Unscalable Mountain
- 4Who Are the Judges Assigned to Challenges to Trump’s Birthright Citizenship Order?
- 5Litigators of the Week: A Directed Verdict Win for Cisco in a West Texas Patent Case
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
