In February 2013, Lowey Dannenberg filed a proposed class action against global financial institutions responsible for setting the Euro Interbank Offered Rate (Euribor), a global reference rate used to benchmark and price settle more than $200 trillion of financial products, including Euribor futures contracts traded on the NYSE LIFFE exchange.

Lowey Dannenberg secured settlement agreements from three of the defendants— Barclays, Deutsche Bank, and HSBC —totaling $309 million. The Court has granted final approval to all three settlements.

The case is currently pending before Judge P. Kevin Castel and the litigation is ongoing. Defendants settled with global regulators, paid billions in fines, and were granted ACPERA conditional leniency from the DOJ for alleged anti-competitive conduct in the Euribor market.

Sullivan v. Barclays PLC et al., Case No. 13-cv-2811 (S.D.N.Y.)