Deutsche Bank resolves class action lawsuit over allegations of conspiracy to stifle competition in CDS market
Clients Deutsche Bank AG, New York Branch
Jones Day client Deutsche Bank AG, New York achieved a settlement agreement in an antitrust class action brought by an Ohio union pension plan claiming that Deutsche Bank and other bank defendants conspired to prevent the development of credit default swap ("CDS") exchange trading and CDS futures products in an effort to stifle competition in the CDS market, in turn allegedly raising fund managers' costs. The court granted final approval to the settlement in April 2016.
In re Credit Default Swaps Antitrust Litigation, MDL No. 2476 (S.D.N.Y.)