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Posts Categorized: Market Manipulation Lawsuits

Posted: August 13, 2018

Stock Loan Lowdown: Third Time Through the Order

Welcome back, followers, friends and fellow antitrust fans, to this third installment of the Stock Loan Lowdown. This time around, we examine the full-blown fortress forged by our persistent plaintiffs in response to the defendants frighteningly (or frustratingly?) far-reaching motion to dismiss. If you’re new around here and wondering just what that motion said, who… Read more »

Posted: August 6, 2018

SEF Scuttling? Alleged Manipulation of the Interest Rate Swap Market through Torpedoing of All-To-All Platforms and SEF Marketplaces

Interest rate swaps (IRS) are a frequently traded instruments known for their ability to reduce or increase one’s exposure to changes in interest rates. Buy-side funds and firms historically have been reliant on the major sell-side broker-dealer banks like Bank of America to purchase and sell IRS. However according to a number of actions MDL’d… Read more »

Posted: July 30, 2018

Mexican Government Bond Market Manipulation Manipulation

In our May 17, 2018, post, we alerted you to several lawsuits filed in the Southern District of New York alleging manipulation of the market for Mexican government bonds, and noted that one case had already moved to consolidate with other actions. Since then, on June 18, 2018, the Court granted motions by plaintiffs in… Read more »

Posted: July 20, 2018

“Fixing” with the Fix? Market Manipulation Litigation for Precious Metals and their Spot and Derivatives

There is indeed gold “in them hills” if you are willing to lie to get it, at least according to the allegations in a number of precious metals litigations that have sprung up since 2013. Currently there are no less than two multi-district litigations relating to gold and silver, and a separate action with respect… Read more »

Posted: July 6, 2018

LIBOR Got a Little Bit of Class

In our June 6, 2018, post, we gave an overview of the general factual allegations made in In Re: Libor-Based Financial Instruments Antitrust Litigation, 11-MD-02262 (In re Libor), the multi-district litigation in the Southern District of New York where many civil cases relating to manipulation of LIBOR or the London Interbank Offered Rate for the… Read more »

Posted: June 27, 2018

SSA Swindling?

Even in more niche financial instruments, there are a number of cases asserting allegations of secondary market and bid spread manipulation. This is true of the supranational, sub-sovereign, and agency bond market, better known as the “SSA” market. Since late 2016, 13 actions have been consolidated in In re SSA Bonds Antitrust Litigation, No. 1:16-cv-03711-ER… Read more »

Posted: June 20, 2018

Stock Loan Lowdown, Part Two: To Dismiss or Not to Dismiss?

“To dismiss or not to dismiss” is the question that Judge Failla presently mulls, and will likely continue to do for the coming weeks. Or months? Anticipation is running high here at the Manipulation Monitor, so let’s hope it is not a question of years. For those of you who may be wondering what, exactly,… Read more »

Posted: June 6, 2018

Banks Put the “Lie” in LIBOR

There have been at least 76 actions filed across the United States since 2011 relating to manipulation of LIBOR or the London Interbank Offered Rate for the U.S. dollar. Since August 2011, 71 of these actions have been transferred to a Multi-District Litigation in the Southern District of New York: In Re: Libor-Based Financial Instruments… Read more »

Posted: June 1, 2018

Trickery in [High Frequency] Trading

Coming up today on the Manipulation Monitor’s compendium of curious competition cases is an overview of claims of chicanery in the high frequency trading markets. Specifically, this post will provide an overview of five litigations, listed below, all of which concern the operation of stock exchanges and the Barclay’s Liquidity Cross (or “LX”) dark pool,… Read more »

Posted: May 17, 2018

Third Mexican Government Bond Manipulation Suit Filed; Plaintiff Moves to Consolidate

In the past two months, three antitrust class actions have been filed alleging the manipulation of the market for Mexican government bonds. Oklahoma Firefighters Pension & Retirement System v. Banco Santander, was filed on March 30, 2018, Manhattan and Bronx Surface Transit Operating Authority Pension Plan v. Banco Santander, was filed on May 3, 2018,… Read more »