This official website is maintained by the Settlement Administrator retained and supervised by Class Counsel for the Settlement Class Members in the actions entitled, Sullivan et al. v. Barclays plc et al., 13-cv-2811 (PKC) (S.D.N.Y.) pending in the United States District Court for the Southern District of New York.
**IMPORTANT UPDATE**
The Distribution Motion was approved by the court on July 23, 2024. Please review website for any additional updates.
The Distribution Motion was approved by the court on July 23, 2024. Please review website for any additional updates.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Proposed Class Action
Settlement, September 7, 2023 Settlement Hearing Thereon, And Settlement Class Members’ Rights (the “Notice”), which you can access by
clicking here. Since this website is just a summary,
you should review the Notice and Settlement Agreement for additional details.
Your Legal Rights Could Be Affected Whether You Act Or Do Not Act. Please Read The Notice Carefully.
IF YOU TRANSACTED IN EURIBOR PRODUCTS BETWEEN JUNE 1, 2005 THROUGH MARCH 31, 2011, INCLUSIVE, (THE “CLASS PERIOD”), YOU MAY BE ENTITLED TO A PAYMENT FROM A CLASS ACTION SETTLEMENT.
| IMPORTANT DATES AND DEADLINES | |
|---|---|
| SUBMIT A PROOF OF CLAIM |
To be eligible for a payment from the Settlement with Société Générale, Claim Forms must be postmarked no later than
November 30, 2023. Note, if you already timely submitted a valid proof of claim and release pursuant to the previous settlements with Barclays, HSBC, Deutsche Bank, JPMorgan, Citi or Crédit Agricole, you DO NOT need to submit a new Proof of Claim and Release to participate in this Settlement. If you did not file a Claim Form with the previous settlements, and if you do not file a Claim Form by November 30, 2023, you will not be eligible to receive any money from the Settlement Fund. |
| EXCLUDE YOURSELF | If you do not wish to be bound by the terms of this Settlement with Société Générale, you must submit a written request for exclusion – received or postmarked – no later than August 17, 2023. |
| OBJECT TO THE SETTLEMENT | Any objections to the proposed Settlement with Société Générale must be filed no later than August 24, 2023. |
| SETTLEMENT HEARING |
A hearing will be held on October 31, 2023 at 3:00 p.m (ET) at the
United States District Court Southern District of New York,
Courtroom 11D, to consider the fairness, reasonableness, and adequacy of the Settlement. Anyone wishing to attend the Settlement Hearing must include a written notice of the intention to appear with their Objection, and filed, no later than August 24, 2023. |
Any change by the Court of the Distribution Plan, the time and place of the Fairness Hearing, or any other matter and all further orders or
requirements by the Court will be posted on this website as soon as practicable.
It is important that you refer to this website as no other notice may be published of such changes.
What is this case about?
Plaintiffs allege that, during the Class Period, Defendants Barclays plc, Barclays Bank plc, Barclays Capital Inc., Citigroup, Inc., Citibank, N.A., Coöperatieve Rabobank U.A. (f/k/a Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.), Crédit Agricole S.A., Crédit Agricole CIB, Deutsche Bank AG, DB Group Services (UK) Ltd., HSBC Holdings plc, HSBC Bank plc, ICAP plc, ICAP Europe Limited, JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., The Royal Bank of Scotland plc, Société Générale SA, and UBS AG (collectively, “Defendants”) agreed, combined, and conspired to rig Euribor and fix the prices of Euribor Products. Plaintiffs allege that Defendants did so by using several means of manipulation. For example, Plaintiffs allege that panel banks that made daily Euribor submissions to Thomson Reuters falsely reported banks’ costs of borrowing to financially benefit their Euribor Products positions. Plaintiffs also allege that Defendants requested that other Defendants make false Euribor submissions on their behalf to benefit their Euribor Products positions.
Plaintiffs further allege that Defendants continuously conspired to fix the prices of Euribor Products in the over-the-counter market to financially benefit their own Euribor Products positions. In addition to coordinating Euribor submissions and agreeing on where to price Euribor Products, Plaintiffs allege that, in order to effectuate their manipulations of Euribor and Euribor Products during the Class Period, Defendants engaged in “pushing cash,” transmitted false bids and offers, used derivative traders as submitters, and rigged bids and offers for Euribor Products.
Plaintiffs have asserted legal claims under various theories, including federal antitrust law, the Commodity Exchange Act (“CEA”), the Racketeering Influenced and Corrupt Organizations Act (“RICO”), and common law.
Société Générale has consistently and vigorously denied Plaintiffs’ allegations and maintains it has meritorious defenses to the claims of liability and damages made by Plaintiffs.
What are Euribor Products?
“Euribor Products” means any and all interest rate swaps, forward rate agreements, futures, options, structured products, and any other instrument or transaction related in any way to Euribor, including but not limited to, New York Stock Exchange (“NYSE”) London International Financial Futures and Options Exchange (“LIFFE”) Euribor futures contracts and options, Chicago Mercantile Exchange (“CME”) Euro currency futures contracts and options, Euro currency forward agreements, Euribor-based swaps, Euribor-based forward rate agreements, and/or any other financial instruments that reference Euribor.
It is important that you refer to this website as no other notice may be published of such changes.
What is this case about?
Plaintiffs allege that, during the Class Period, Defendants Barclays plc, Barclays Bank plc, Barclays Capital Inc., Citigroup, Inc., Citibank, N.A., Coöperatieve Rabobank U.A. (f/k/a Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.), Crédit Agricole S.A., Crédit Agricole CIB, Deutsche Bank AG, DB Group Services (UK) Ltd., HSBC Holdings plc, HSBC Bank plc, ICAP plc, ICAP Europe Limited, JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., The Royal Bank of Scotland plc, Société Générale SA, and UBS AG (collectively, “Defendants”) agreed, combined, and conspired to rig Euribor and fix the prices of Euribor Products. Plaintiffs allege that Defendants did so by using several means of manipulation. For example, Plaintiffs allege that panel banks that made daily Euribor submissions to Thomson Reuters falsely reported banks’ costs of borrowing to financially benefit their Euribor Products positions. Plaintiffs also allege that Defendants requested that other Defendants make false Euribor submissions on their behalf to benefit their Euribor Products positions.
Plaintiffs further allege that Defendants continuously conspired to fix the prices of Euribor Products in the over-the-counter market to financially benefit their own Euribor Products positions. In addition to coordinating Euribor submissions and agreeing on where to price Euribor Products, Plaintiffs allege that, in order to effectuate their manipulations of Euribor and Euribor Products during the Class Period, Defendants engaged in “pushing cash,” transmitted false bids and offers, used derivative traders as submitters, and rigged bids and offers for Euribor Products.
Plaintiffs have asserted legal claims under various theories, including federal antitrust law, the Commodity Exchange Act (“CEA”), the Racketeering Influenced and Corrupt Organizations Act (“RICO”), and common law.
Société Générale has consistently and vigorously denied Plaintiffs’ allegations and maintains it has meritorious defenses to the claims of liability and damages made by Plaintiffs.
What are Euribor Products?
“Euribor Products” means any and all interest rate swaps, forward rate agreements, futures, options, structured products, and any other instrument or transaction related in any way to Euribor, including but not limited to, New York Stock Exchange (“NYSE”) London International Financial Futures and Options Exchange (“LIFFE”) Euribor futures contracts and options, Chicago Mercantile Exchange (“CME”) Euro currency futures contracts and options, Euro currency forward agreements, Euribor-based swaps, Euribor-based forward rate agreements, and/or any other financial instruments that reference Euribor.
Commodities Brokers and other Nominees: Please visit the
Institutional E-Filing page of this website.
If you have questions, you may call the Euribor Settlement Help Line at 800-492-9154,
or email info@Euriborsettlement.com
or email info@Euriborsettlement.com
