Susman Godfrey LLP and Hausfeld LLP Announce a $120 Million Settlement That Impacts Individuals and Institutions Who Owned a U.S. Dollar LIBOR-Based Instrument Between August 2007 and May 2010
The following is being released by Susman Godfrey LLP and Hausfeld LLP.
There is a Settlement with Barclays Bank that impacts individuals and institutions that entered into over-the-counter financial derivative and non-derivative instruments directly with Barclays or a Non-Settling Defendant that received payments tied to U.S. Dollar LIBOR. Barclays and the Non-Settling Defendants are U.S. Dollar LIBOR Panel Banks. Please visit www.BarclaysLiborSettlement.com for the list of Defendants. The instruments include certain interest rate swaps, forward rate agreements, asset swaps, collateralized debt obligations, credit default swaps, inflation swaps, total return swaps, options, and floating rate notes.
The litigation claims that the banks manipulated the U.S. Dollar LIBOR rate during the financial crisis, artificially lowering the rate for their own profit, which resulted in purchasers receiving less interest payments for their U.S. Dollar LIBOR-based instruments from the banks as they should have. Plaintiffs assert antitrust, breach of contract, and unjust enrichment claims. Barclays denies all claims of wrongdoing.
Individuals and institutions are included in the Settlement if they:
- Directly purchased certain U.S. Dollar LIBOR-based instruments;
- From Barclays or any Non-Settling Defendant (or their subsidiaries or affiliates);
- In the United States; and
- Owned the instruments at any time between August 2007 and May 2010.
The Settlement will create a $120 million Settlement Fund that will be used to pay eligible Class Members who submit valid claims. Additionally, Barclays will cooperate with the Plaintiffs in their ongoing litigation against the Non-Settling Defendants.
Class Members must submit a Proof of Claim, online or by mail, by December 21, 2017 to get a payment. They are entitled to receive a payment if they have a qualifying transaction with Barclays or a Non-Settling Defendant. At this time, it is unknown how much each Class Member who submits a valid claim will receive.
Even if they do nothing, Class Members will lose the right to sue Barclays for the alleged conduct and will be bound by the Court’s decisions concerning the Settlement. This Settlement will not result in a release of claims against any Non-Settling Defendant, and the litigation against Non-Settling Defendants is ongoing. If Class Members want to keep their right to sue Barclays, they must exclude themselves from the Settlement Class by October 9, 2017. If they stay in the Settlement Class, they may object to the Settlement by October 9, 2017.
The Court will hold a hearing on October 23, 2017 to consider whether to approve the Settlement and approve Class Counsel’s request of attorneys’ fees of up to one-third of the Settlement Fund, plus reimbursement of costs and expenses. Class Members or their lawyers may appear and speak at the hearing at their own expense.
For more information, please visit www.BarclaysLiborSettlement.com, or call 1-888-568-7640.
Susman Godfrey LLP
Seth Ard, 212-471-8354
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
IDEMIA and Octo Telematics Reinvent Car Sharing Experience by Adding Facial Recognition to EasyOpen Solution23.2.2018 18:57 | Tiedote
IDEMIA, the global leader in Augmented Identity for an increasingly digital world, announces today that it has implemented facial recognition technology on EasyOpen, a solution previously developed with its partner Omoove, a wholly-owned Octo Telematics company, Europe’s leading Shared Mobility technology provider. The digital enrolment process combined with facial recognition technology will securely enroll and authenticate the driver before EasyOpen automatically opens the car. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180223005506/en/ (Photo: Idemia) You will never rent a car the same way thanks to EasyOpen solution that combines IDEMIA’s expertise in secure service enablement and Omoove’s experience in Shared Mobility platforms and on-board technology. The first version of the solution was launched last year and allows drivers, who have already registered on the application, to use their smartphones as a key to open
SM-Optics Unveils First FLEXSET Chip, Paving the Way to Optical Micro Nodes23.2.2018 17:00 | Tiedote
SM-Optics launches FLEXSET, a single chip embedding multiple processing functionalities raising the bar for performances, density and architectural flexibility. The FLEXSET is the heart of the Lightmode product family. FLEXSET OTN switching matrix scales from 300Gbps to 1Tbps and can be addressed by ports spanning from traditional low-speed services like 2Mbps over micro-OTN, to layer2 and layer3 over ODUFlex, 100G over ODU4 and 200G over FlexO. Thanks to its embedded capabilities including multi-technology OAM, packet processing, synchronization and fast protection functions, FLEXSET operates by design at the lowest latency performances and features an Intel Stratix 10 FPGA. Following the launch of micro-OTN, a revolutionary approach to efficiently extend OTN protocol to low speed services, the launch of FLEXSET advances the vision of a highly interconnected metro network and of micro nodes. Revolving around functional block elements, micro nodes collapse in few rack units OTN and pho
Bitcoin Miner HashGains’ Crowdsale to Build Green Cloud Mining Data Centers Receives Excellent Response23.2.2018 16:56 | Tiedote
HashGains.com, a leading cryptocurrency mining platform, has launched its crowdsale program to build mega cryptocurrency cloud mining data centers in India and Canada which uses renewable energy like wind and solar as source of energy. “With the growing worries around bitcoin mining causing environmental damage, difficulty levels of mining increasing and returns heading southwards, there was no better opportunity but to build green energy data centers which run on free sources of energy like wind and solar, ensuring handsome mining rewards while taking care of environment,” said Mr Anuj Bairathi, CEO & Founder, HashGains, who is crypto enthusiast himself. HashGains is a growing cloud mining platform with more than 10,000 active customers enjoying mining returns and is expected to reach the mark of 1 million customers by 2020. To handle such a massive growth and ever growing demand of customers, it becomes even more important that mega mining centers are planned which can serve needs of
Stratecast Recognizes CARDINALITY as a “10 to Watch in 2018”23.2.2018 16:07 | Tiedote
In their new report, “Digital Transformation Means New Tools for New Business” —part of the Global Operations, Orchestration, Data Analytics, and Monetisation (ODAM) stream—Stratecast recognises CARDINALITY for their new approach towards processing big data to deliver applications such as Customer Experience, Operational Intelligence, Network Analytics, Churn Management and Marketing Intelligence. Stratecast identified that the CARDINALITY Perception Platform brings large amounts of data from multiple CSP sources together in order to address a growing group of data analysis needs from different operational work teams and the wider business. It also does this at ingestion rates and storage levels previously thought not practical. "Using design principals tied to microservices and containerized solution components, the platform is a major advancement in meeting CSP data analysis needs at a price untouchable by previously-defined platforms," said Karl Whitelock, Stratecast director of glo
IBC2018 Welcomes Channel 4’s Keith Underwood as Guest Chair of Content Steering Group23.2.2018 14:03 | Tiedote
IBC is thrilled to announce that Keith Underwood, Director of Strategy and Technology at Channel 4, has accepted the role of Guest Chair of the Conference for IBC2018. The position involves acting as the figurehead and brand ambassador for IBC, setting the vision for the programme and increasing awareness and engagement with IBC across both traditional and converging media markets. Keith is the Channel 4 Executive Committee member responsible for strategy and corporate development, broadcast operations, content management, corporate systems and the development of Channel 4’s digital products. His achievements at the public broadcaster include the launch of All 4, Channel 4’s award-winning video on demand service that replaced 4oD in 2015. “The media industry is experiencing profound shifts in consumer behaviour, competitive dynamics, and technological innovation.” Keith Underwood said. “Relentless disruption of established business models presents new opportunities and challenges for p
SES S.A.: Full Year and Fourth Quarter 2017 Results23.2.2018 10:00 | Tiedote
SES S.A. announced financial results for the year and three months ended 31 December 2017. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222006522/en/ Full Year and Fourth Quarter 2017 Results (Photo: Business Wire) Key financial highlights Reported revenue EUR 2,035.0 million, down 1.6% (-5.2% like-for-like(1)); SES Video -3.6%(1) and SES Networks -1.9%(1) EBITDA margin 65.1% (2016: 70.2% as reported and 66.7% like-for-like(1)) Net profit of EUR 596.1 million (2016: EUR 962.7 million including EUR 495.2 million gain related to O3b consolidation) Board is proposing 2017 dividend per A share of EUR 0.80 (2016: EUR 1.34) Change (%) Change (%) EUR million FY 2017 FY 2016 Reported Like-for-like (1) Q4 2017 Q4 2016 Reported Like-for-like (1) Revenue 2,035.0 2,068.8 -1.6% -5.2% 507.8 578.7 -12.2% -8.7% EBITDA 1,324.2 1,451.5 -8.8% -7.6% 329.6 390.6 -15.6% -12.2% EBITDA margin 65.1% 66.7%(1) 64.9% 67.6%(1) Operating profit (2) 6
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme