Pound Sterling LIBOR Securities Settlement

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SETTLED

SONTERRA CAPITAL MASTER FUND LTD., et al. V. BARCLAYS BANK PLC, et al.

FILING DEADLINES:

01/16/2024 ($5,000,000 Deutsche Bank AG)

TBD (Non-Settling Defendants)

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CASE NUMBER:

15-CV-3538

CLASS PERIOD:

January 1, 2005 — December 31, 2010

TOTAL SETTLEMENT FUND:

$5,000,000.00

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    SETTLING DEFENDANTS

    Deutsche Bank AG

Non-Settling Defendants

Barclays plc, Cooperatieve Centrale Raiffeisen Boerenleenbank B.A., Deutsche Bank AG, Lloyds Banking Group plc, RBS plc, UBS AG
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    ELIGIBLE CLASS

    If you purchased, sold, held, traded, or otherwise had any interest in Sterling LIBOR-Based Derivatives during the period from January 1, 2005 through December 31, 2010 (the “Class Period”), you may be eligible to receive a payment from the $5,000,000 settlement reached between Representative Plaintiffs and Defendant Deutsche Bank AG (“Deutsche Bank”) in the above-captioned case.

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    ELIGIBLE INSTRUMENTS

    “Sterling LIBOR-Based Derivatives” means any and all interest rate swaps, forward rate agreements, foreign exchange (“FX”) forwards, futures, options, and any other financial derivative instruments or transactions in any way related to Sterling LIBOR entered into by a U.S. Person, or by a Person from or through a location within the U.S., including but not limited to: (i) Sterling LIBOR-based interest rate swaps; (ii) Sterling LIBOR-based forward rate agreements; (iii) Sterling FX or currency forwards; (iv) a three-month Sterling futures contract on the London International Financial Futures and Options Exchange (“LIFFE”); and (v) a British pound currency futures contract on the Chicago Mercantile Exchange (“CME”).

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    Preliminary Allegations

    The complaint alleges that throughout the Class Period, Defendants knowingly, intentionally, and repeatedly employed multiple anticompetitive means to cause the price fixed by the Sterling LIBOR Agreement to be artificial and manipulated such as:

    (a) colluding to submit false Sterling LIBOR submissions to the BBA ;
    (b) sharing proprietary information regarding their Sterling LIBOR-based derivatives positions;
    (c) making false and spoof bids and offers in the Sterling money market for the purpose of manipulating Sterling interest rates to artificial levels;
    (d) timing illegitimate trades in Sterling money market instruments during periods of reduced liquidity so as to maximize the manipulative impact of such trades on Sterling interest rates.
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    Case Summary

    The complaint alleges that this action arises from Defendants unlawful combination, agreement, and conspiracy to fix and restrain trade in, and their intentional manipulation of, the Sterling London Interbank Offered Rate (Sterling LIBOR) and the prices of Sterling LIBOR-based derivatives during the period of at least January 1, 2005 through at least December 31, 2010.

Case Updates

https://www.sterlingliborsettlement.com/Home/Notice

Next Steps

All investors who purchased, sold, held, traded, or otherwise had any interest in Sterling LIBOR-Based Derivatives during the period from January 1, 2005 through December 31, 2010, should contact Battea Class Action Services today.

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    BRIEF COMPANY PROFILE

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