News

In May 2018, Lowey Dannenberg received final approval for a $309 million deal to resolve claims it brought on behalf of a class of investors who purchased financial instruments against defendants Deutsche Bank AG, Barclays PLC and HSBC Holdings PLC in a massive Euribor fixing conspiracy. In complex litigation before the Honorable P. Kevin Castel, spanning over 5 years, Plaintiffs…

Lowey Dannenberg was appointed co-lead counsel in In re Apple Processor Litigation, 18-cv-00147-EJD (N.D. Cal.), a proposed class action against Apple for defects in the design of central processing units (CPUs) in their electronic devices known as “Meltdown” and “Spectre,” which allow hackers and malicious programs potential access to highly secure personal information. In making the appointment, the court highlighted that…

In March 2018, the Honorable George B. Daniels preliminarily approved a $30 million settlement for investors in Yen-LIBOR (the London Interbank Offered Rate for the Japanese yen), Euroyen TIBOR (the Tokyo Interbank Offered Rate), and the prices of Euroyen TIBOR derivative contracts. These recent settlements with the Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust and Banking Corp. follow…

Recent victories by Lowey’s securities litigation team include a significant Sixth Circuit reversal, which addressed the important legal question of whether the lead plaintiff may sufficiently plead loss causation where the corrective disclosure took the form of a complaint, i.e., a set of allegations which have yet to be proven. Lowey Dannenberg, on behalf of the New York City Pension…

In August 2017, Lowey Dannenberg negotiated a $22 million settlement with JPMorgan Chase & Co. for U.S. investors who traded in or held derivatives tied to the Swiss franc London Interbank Offered Rate (Swiss franc LIBOR). In litigation filed in 2015, Plaintiffs alleged a conspiracy against some of the world's largest financial institutions to for colluding and manipulating the Swiss…