Welcome to the website for LIBOR Bondholder Settlements, pending in the United States District Court for the Southern District of New York (the “Action”).

The Bondholder Plaintiffs have reached proposed settlements (the “Settlements”) of the Bondholder Action with seven of the Defendants in the litigation: Barclays Bank plc (“Barclays”), UBS AG (“UBS”), HSBC Bank plc (“HSBC”), Citibank, N.A. and Citigroup Inc. (collectively, “Citi”), JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A. (collectively, “JPMorgan”), Bank of America Corporation and Bank of America, N.A. (collectively, “BOA”), and the Royal Bank of Scotland Group plc (“RBS”). These banks are known collectively as the “Settling Defendants.” The Settlements, if each is approved, will create an aggregate Settlement Fund of $68.625 million.

This matter is a proposed settlement of claims in a pending antitrust class action brought by investors alleging, among other things, that Defendants, members of the British Banking Association (BBA) U.S. Dollar LIBOR panel during the Class Period (defined below), violated the federal antitrust laws by allegedly conspiring to manipulate U.S. Dollar LIBOR, short for London Interbank Offered Rate. Bondholder Plaintiffs' claim as to the remaining Defendants has been dismissed and is presently on appeal in the U.S. Court of Appeals for the Second Circuit.

If you are a member of the Settlement Classes, your rights will be affected, and you may be eligible for a payment from the Settlements. The Settlement Classes consist of:

All persons and entities who, during the period from August 1, 2007, through May 31, 2010, inclusive (the “Class Period”), owned (including beneficially in “street name”) any bond or other debt security:

  • that has a CUSIP identification number;
  • on which interest was payable at any time between August 1, 2007, and May 31, 2010;
  • where that interest was payable at a rate expressly tied to U.S. Dollar LIBOR; and
  • that was not issued by any of the Defendants, their subsidiaries or affiliates as obligor.

If you are a member of the Settlement Classes, in order to be potentially eligible to receive payment from the Settlements, you must submit a Proof of Claim Form (“Claim Form”) postmarked or electronically filed no later than December 28, 2020.

Your Legal Rights and Options in This Settlement
Submit a Claim Form To be eligible to receive a payment from the Settlements, you must mail the Claim Form and supporting documentation, postmarked no later than December 28, 2020, or submit your claim and supporting documentation electronically no later than December 28, 2020, in accordance with the instructions in FAQ 17 and the Claim Form.
Exclude Yourself To exclude yourself from any or all of the Settlement Classes, you must submit a written request for exclusion postmarked no later than November 17, 2020, in accordance with the instructions in FAQ 19.
Object Any objections to any or all of the proposed Settlements, the proposed Plan of Allocation, the request for attorneys’ fees and reimbursement of litigation expenses, or the payment of service awards to the Bondholder Plaintiffs must be postmarked no later than November 17, 2020, in accordance with the instructions in FAQ 24.
Go to a Hearing You may attend the Fairness Hearing. The Fairness Hearing will be held on December 16, 2020, at 11:00 a.m. before the Honorable Naomi Reice Buchwald at the United States District Court for the Southern District of New York, Courtroom 21A of the Daniel Patrick Moynihan Courthouse, 500 Pearl Street, New York, New York 10007. Without additional notice, the Court may change the hearing’s date, time, location, or how the hearing will be conducted, so it is a good idea to check this website. If you (or an attorney you hire) would like to speak in Court about the fairness of the Settlements, see the instructions in FAQ 28.
Do Nothing Get no payment, Give up rights.

The Frequently Asked Questions page of this website has more information on your rights as Member of the Settlement Class in this Action.