CDS Antitrust Settlement
- Gigantic $1,864,650,000 settlement fund
- Submit Claim form online
A massive class action lawsuit settlement has recently been agreed upon to settle a claim stemming from allegations that the Defendants engaged in anti-competitive acts that affected the price of credit default swaps in violation of Section 1 of the Sherman Act. The total amount of the agreed settlement fund totals over $1.8 Billion and includes the following list as the Defendants: Bank of America, N.A., Barclays Bank PLC, BNP Paribas, Citigroup Inc., Citibank, N.A., Citigroup Global Markets Inc., Credit Suisse AG, Deutsche Bank AG, Goldman, Sachs & Co., HSBC Bank PLC and HSBC Bank USA, N.A., JP Morgan Chase & Co. and JP Morgan Chase Bank, N.A., Morgan Stanley & Co. LLC, Royal Bank of Scotland PLC and Royal Bank of Scotland N.V., UBS AG and UBS Securities LLC, International Swaps and Derivatives Association, Markit Group Holdings Ltd., and Markit Group Ltd.
Who Qualifies as a Class Member?
- Anyone who sold CDS to or purchased CDS from the Defendants in a Covered Transaction between the dates of January 1st, 2008 through September 25th, 2015
What the Heck is a CDS Anyways?
- A CDS can be defined as any and all types of credit default swaps (CDS) and CDS-based products, including, without limitation, single-name CDS, CDS on corporate, sovereign and municipal reference entities, tranche CDS, basket CDS, index CDS, and CDS futures.
How Do I Stake My Claim?
- The simplest way to file a claim is to complete the Claim Form online at by logging into the Claimant Portal
- As an alternative Class Members can mail the Claim Form to: Credit Default Swaps Antitrust Litigation c/o GCG P.O. Box 10254 Dublin, OH 43017-5754
Some Important Dates To Know
- February 29th, 2016 is the deadline for Class Members to exclude themselves from the settlement as well as the Comment or Objection deadline
- April 15th, 2016 is the date the Fairness Hearing will be held
- May 27th, 2016 is the date by which a Claim Form must be filed
For more Information about the CDS Antitrust Settlement Class Members should visit the designated settlement webpage.