Battea’s Market Monthly Newsletter: November 2020
More than $2.824 Billion settled through Q3 2020.
Urgent Deadlines Loom in Several LIBOR-Based Antitrust Litigations.
BILLIONS OF DOLLARS AVAILABLE TO ELIGIBLE INVESTORS:
While billions of dollars have already settled in the Foreign Exchange Benchmark Antitrust manipulation case, and have distributed in the Petrobras American Depository Shares (ADS) settlement, there are still several billions expected to settle in cases currently in litigation. We are actively monitoring the Interest Rate Swaps Antitrust Litigation (Spread Manipulation), GSE Bonds Antitrust Litigation, and on the equity side of the horizon, American Realty Capital Properties and Valeant Pharmaceuticals International (which include settlement funds of $1.025 billion and $1.210 billion, respectively).
However, these settlements, and the securities and financial products that are eligible to participate, are extremely complex and many claimants will struggle asserting their claims. Those who file successful claims stand to receive significant or even out sized recovery awards. Due to the complexity associated with determining the transactions that are eligible to participate in these multiple settlements, and the large recovery amounts available to eligible claimants, we are requesting that you provide all of your relevant transaction data to Battea for a no-cost analysis.
LIBOR SETTLEMENTS: 2020/Q1 2021 FILING DEADLINES:
Battea has been actively monitoring the Morgan Stanley Mortgage Back Security (MBS) Fair Fund, LIBOR-Based Antitrust Litigation Exchange-Based, Bondholder USD LIBOR-Based Debt Settlement, LIBOR-Based Antitrust Green Pond Action. Collectively, these settlement funds comprise more than $550 million. However, investors do not want to find themselves scrambling to gather data, deciphering settlement details, including their recovery opportunity, and other related issues at the last minute. In previous matters, including the recent CDS case, many claimants missed the boat or got short changed due to the lack of transparency to loss calculations, insufficient data production, and other various reasons.
More Than 70% of Investors Leave Award Monies Unclaimed
“Less than thirty percent of investors with provable losses perfect their claims in [securities class action] settlements.”
– Stanford Law Review, Professors James D. Cox & Randall S. Thomas
WITH BILLIONS AVAILABLE TO ELIGIBLE INVESTORS – THE TIME TO ACT IS NOW:
Battea will provide a comprehensive analysis of your transaction history to ensure that your filings in all of these settlements are complete, and in many instances, the same transactions may be eligible to be filed in more than one settlement, and therefore eligible to receive multiple settlement distributions. Battea has been consulted as experts by multiple law firms in the US and Europe concerning how best to retrieve trade settlement history, locate data, and identify derivatives and FX transactions to effectuate the development of plans of allocation and investor data on-boarding and processing.