| LIBOR Case Against JPMorgan
and Bank of America Settled As SDNY Judge
Buchwald Signs Off
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
May 26 – In a multi-district
antitrust case about LIBOR
dating back to 2011, on May 26
U.S. District Court for the
Southern District Judge Naomi
Reice Buchwald held a short
proceeding, covered by Inner
City Press, then signed off on
a settlement ending the case:
"FINAL JUDGMENT AND ORDER OF
DISMISSAL WITH PREJUDICE,
GRANTING FINAL APPROVAL OF
SETTLEMENT BETWEEN LENDER
PLAINTIFFS, JPMORGAM CHASE
& CO. AND JPMORGAN CHASE
BANK, N.A. ("JPMORGAN") AND
BANK OF AMERICA CORPORATION
AND BANK OF AMERICA, N.A. (
"BOA") AND UBS AG ("UBS"):
NOW, THEREFORE, IT IS HEREBY
ORDERED, ADJUDGED AND DECREED
THAT: Unless indicated
otherwise, capitalized terms
used herein have the same
meanings defined in each of
the Agreements. For purposes
of finally approving the
Settlements, the Court has
jurisdiction over the subject
matter of the Lender Action,
Lender Plaintiffs, all Lender
Class Members, and, solely for
purposes of effectuating the
Settlements and subject to the
limitations contained in the
Agreements, the Settling
Defendants.
Lender
Plaintiffs' Counsel are
awarded attorneys' fees in the
amount of $1,120.000 plus
interest at the same rate as
earned by the Settlement
Funds, and expenses in the
amount of $11,688.47 plus
interest at the same rate as
earned by the Settlement
Funds, if such amounts are not
paid from out of the
Settlement Funds within five
(5) business days following
the entry of this Final
Judgment and Order of
Dismissal with Prejudice.
Plaintiff The Government
Development Bank for Puerto
Rico is awarded the sum of $
15,000 plus interest at the
same rate as earned by the
Settlement Funds, as
reasonable costs and expenses
and as a service award
directly relating to the
representation of the Lender
Class.
All agreements
made and orders entered during
the course of this Lender
Actionrelating to the
confidentiality of information
shall survive the Settlements
and be binding on the Parties,
including but not limited to
the Stipulation and Protective
Order entered on March 21,
2016 (ECF No. 1347). And as
set forth herein., Bank of
America Corporation, Bank of
America Corporation, Bank of
America N.A., Bank of America,
N.A., J.P. Morgan Chase &
Co., J.P. Morgan Chase Bank,
N.A., JPMorgan Chase &
Co., JPMorgan Chase Bank
National Association, JPMorgan
Chase Bank, National
Association, JPMorgan Chase
Bank, National Association,
UBS AG, UBS AG, UBS AG, UBS
AG, Bank Of America
Corporation and Bank of
America Corp. terminated.
(Signed by Judge Naomi Reice
Buchwald on 5/26/2020) (ama)
(Entered: 05/26/2020)."
The case is In
Re: Libor-Based Financial
Instruments Antitrust
Litigation, 11-md-2262
(Buchwald).
***
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