NEWS, OPINION AND AWARDS
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Co-Lead Counsel Appointment in Case Against Transmedics Group
Scott+Scott this week was appointed Co-Lead Counsel in a securities class action against the organ transplant technology provider Transmedics Group, Inc., and the company’s senior executives. According to the court order by Judge Leo T. Sorokin of the United States District Court of the District of Massachusetts, the plaintiffs allege that TransMedics “made statements […] about its business practices and revenue generation that were materially false and misleading.” The plaintiffs’ class period is between February 28, 2023, and January 10, 2025, inclusive.
Scott+Scott Files Class Action Against Blue Shield
Scott+Scott, along with three other law firms as co-counsel, this week filed a data privacy class action lawsuit against Blue Shield of California on behalf of current and former members whose communications, medical information, financial details, and other personal information were improperly disclosed. The complaint alleges that Blue Shield shared the health information of current and former members with unauthorized third parties through invisible online surveillance and tracking technologies embedded on its website.
Lawdragon Recognizes Scott+Scott Partners
In April, Scott+Scott Managing Partner David Scott and Partner Sylvia Sokol were named as being among the 500 Global Plaintiff Lawyers. Ms. Sokol oversees Scott+Scott’s three transatlantic offices. In March, Lawdragon added Partners Paige Alderson-Smith, Sindhu S. Daniel, and Erin Green Comite to its 500 Leading Plaintiff Consumer Lawyers guide. Earlier in the year, seven Partners were recognized as being among Lawdragon’s 500 Leading Global Antitrust & Competition Lawyers 2025.
Co-Lead Counsel Appointment in Boeing Derivative Suit
We are pleased to announce that Vice Chancellor Morgan T. Zurn has appointed Scott+Scott as Co-Lead Counsel in a lawsuit filed against certain directors and officers of The Boeing Co. regarding their continued lack of oversight over airplane safety. The lawsuit, filed by Scott+Scott, along with co-counsel, challenges significant oversight failures that have led to, or otherwise allowed, serious production and safety issues at Boeing to remain unchecked. The plaintiffs in the Delaware lawsuit include three pension fund stockholders: Oklahoma Firefighters Pension and Retirement System, Ohio Public Employees Retirement System, and State Teachers Retirement System of Ohio.
200 French Media Publications File Suit Against Meta
For the first time in French history, 67 media organizations representing 200 publications – including public and private TV as well radio networks, regional and national newspapers – have joined forces and filed a lawsuit before the Business Tribunal (Tribunal des Activités Économiques) in Paris against Meta to recover losses stemming from unfair business and advertising practices. As the lawsuit alleges, Meta’s market dominance in the digital advertising sector is predominantly based on illegal practices, including the large-scale collection of personal data and its unlawful use for targeted advertising.
Lead Counsel: Case Against Innovative Industrial
Scott+Scott has been appointed Plaintiff Lead Counsel in a securities class action against Innovative Industrial Properties, Inc. brought on behalf investors, including our client City of Birmingham Retirement and Relief System that the Court also named Lead Plaintiff. “Birmingham has suffered the largest loss,” Chief United States District Judge George L. Russell, III of the District Court of Maryland noted in his order. “The exhibits submitted in support of Birmingham’s selection demonstrates that Scott + Scott has significant experience prosecuting securities cases of this nature,” he added.
Class Action Filed Against Actinium Pharmaceuticals, Inc.
Scott+Scott has filed a securities class action lawsuit in the United States District Court for the Southern District of New York against Actinium Pharmaceuticals, Inc. (NYSE American: ATNM), and certain of its former and current officers and/or directors on behalf of all persons other than Defendants who purchased or otherwise acquired Actinium securities between October 31, 2022, and August 2, 2024, inclusive, and, as a result, suffered financial losses.
Co-Lead Counsel Appointment in Frozen Potato Antitrust Suit
We are pleased to announce that Judge Jeffrey I. Cummings of the United States District Court of the Northern District of Illinois this week appointed Scott+Scott as Interim Co-Lead Counsel of a proposed class of direct purchasers in the antitrust class action In re Frozen Potato Products Antitrust Litigation. The lawsuit, filed by Scott+Scott, along with co-counsel, alleges that the largest processors of frozen potato products in the U.S., including Lamb Weston Holdings Inc., McCain Foods USA, Inc., J.R. Simplot Co., and Cavendish Farms, Inc. have conspired to artificially inflate prices causing a more than 40% cost increase for purchasers.
Scott+Scott Files Lawsuit Against ModivCare, Inc.
Scott+Scott this week filed a securities class action lawsuit in the United States District Court for the District of Colorado against ModivCare, Inc.. The Class Action is captioned: Kalera v. ModivCare, Inc., et al., Case No. 1:25-cv-00306. If you purchased ModivCare securities between November 3, 2022, and September 15, 2024 and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as lead plaintiff.
Seven Attorneys Recognized as Global Antitrust Leaders
We are thrilled to announce that seven partners across Scott+Scott’s U.S. and transatlantic offices have been recognized to be listed in Lawdragon’s newly launched 2025 guide 500 Leading Global Antitrust & Competition Lawyers. “These lawyers excel in crafting transaction terms that will pass muster with global regulatory bodies. They know how to navigate a growing array of worldwide authorities who examine the impact of a deal in hotly contested industries,” according to Lawdragon.
Scott+Scott Supports DELREC’s Mission to Educate Students
Scott+Scott is proud to support the Delaware Law Related Education Center Inc. (DELRREC) in its efforts to provide meaningful learning experiences and skill-building opportunities for students across Delaware. Through a variety of programs and initiatives, DELREC works to deepen students’ understanding of the law, promote involvement in law-related education, highlight careers in the legal and public service sectors, and inspire interest in pursuing legal professions.
Scott+Scott Secures $120M Recovery in Case Against Banks
Scott+Scott is pleased to announce the approval of a landmark settlement of $80M in an investor class action against some of the world’s largest banks, including Citigroup, UBS, NatWest, Bank of America, and Meryll Lynch, securing a total $120M in recovery and resolving the case in its entirety. In the long-running lawsuit In re European Government Bonds Antitrust Litigation filed in the United District Court of the Southern District of New York on behalf of three pension funds, Scott+Scott, along with co-counsel, alleged that the defendants conspired to fix European government bond prices.
Collective Action Trial Against Shipping Cartel Begins
The trial in the Car Delivery Charges legal action against a shipping cartel brought by Mark McLaren, class representative acting on behalf of UK consumers and businesses who purchased or leased new cars and vans between October 2006 and September 2015 will commence on Monday 13 January 2025 at 10:30am at the Competition Appeal Tribunal (CAT). The trial is scheduled to last for nine weeks. The trial is against the two remaining defendant shipping companies in the cartel, MOL and NYK who represent 47.7% of the cartel.
Scott+Scott Amsterdam Files Legal Action Against Tinder
Scott+Scott Amsterdam on behalf of the Take Back Your Privacy Foundation (TBYP) today initiated legal proceedings at the Amsterdam court against Tinder Ireland and Match Group Inc., alleging that the companies for years violated data privacy laws and harvested sensitive personal data of their users for financial gain. According to the lawsuit, Tinder routinely collects much more sensitive private information from its users than necessary, for example by geotracking while using the app.
Scott+Scott Secures $200M Settlement in case against Uber
United States District Court Judge Richard Seeborg of the Northern District Court of California, San Francisco Division, last week granted a landmark $200 million settlement reached with Uber Technologies, Inc. on behalf of a class of investors represented by Scott+Scott and other law firms as co-counsel. The long-running case involved the production and review of hundreds of thousands of Uber’s documents and dozens of depositions throughout the United States, including of Uber’s officers and directors. The $200 million settlement will be paid out to investors who purchased Uber shares shortly after the company went public.
Scott+Scott Files Class Action Against Kyverna
Scott+Scott Attorneys at Law LLP has filed a securities class action lawsuit in the United States District Court for the Northern District of California against Kyverna Therapeutics, Inc. (“Kyverna” or the “Company”) (NASDAQ: KYTX), certain directors and officers, and the underwriters of Kyverna’s February 8, 2024 initial public offering (“IPO”), alleging violations of §§11, 12 and 15 of the Securities Act, 15 U.S.C. §§ 77k, 77l(a)(2), and 77o. The Class Action filed by Scott+Scott is captioned: Rondini v. Kyverna Therapeutics, Inc., et al, Case No. 3:24-cv-08869.
£37.25M Settlement Approved in Shipping Cartel Case
The Competition Appeal Tribunal today approved a £37.25 million settlement between Mark McLaren, class representative in the car delivery charges legal action, and WWL/EUKOR and “K” Line, two of the four shipping companies named in the lawsuit.
This brings total compensation up for grabs by UK businesses and consumers to £38.75 million, including the CSAV settlement that was approved in December last year.
Scott+Scott Sues Microsoft for Over £1Billion
Microsoft is facing a new billion-pound legal action by UK businesses and organisations that were allegedly overcharged for Microsoft products. Court papers filed today by leading digital markets regulation and policy expert Dr Maria Luisa Stasi and her lawyers at the complex disputes resolution firm Scott+Scott argue that affected UK businesses and organisations are collectively owed more than £1 billion in compensation after being overcharged for licencing Windows Server for use on Microsoft’s main rivals’ cloud platforms.
Scott+Scott Attorneys Recognized
Scott+Scott attorneys recently received numerous recognitions for their outstanding achievements in antitrust and securities law. “We are thrilled that our attorneys have earned these well-deserved recognitions. These accolades only underscore our team’s innovative approach to antitrust and securities law from hard-fought litigation to successful case resolution,” Scott+Scott Managing Partner David Scott said.
Scott+Scott Secures $39 Million Verdict in Drug Kickback Case
Scott+Scott secured a landmark trial verdict of $39 million dollars against Assured Rx and several of its staff as well as business acquaintances. The long-running case filed in the Superior Court of Connecticut under the False Claims Act, centered on a money kickback scheme aiming at enticing patients to buy Assured Rx compound prescription drugs and seek reimbursement through their state’s healthcare plan.
Scott+Scott Supports Law Related Education
Scott+Scott is proud to support the Delaware Law Related Education Center’s mission to provide active learning experiences and skills developments for Delaware students. Through its various programs and initiatives, DELREC seeks to foster a greater understanding of law, encourage and support student participation in law-related education, provide access to information about careers in the law and public service sector, and encourage interest in legal careers.
Scott+Scott Attorneys Recognized by AAI
Scott+Scott New York and Chicago-based Partners Karin Garvey and Brian Hogan earlier this week were recognized by the American Antitrust Institute for their co-lead counsel role in the high-profile case Fusion Elite Stars, et al. v. Varsity Brands, LLC, et al., brought on behalf of two nationwide classes of All Star Cheer gyms and spectators. Scott+Scott San Diego-based Attorney Patrick Rodriguez was recognized for his Outstanding Antitrust Litigation Achievement by a Young Lawyer.
David Scott to Attend Global Class Actions Symposium
Scott+Scott Managing Partner David Scott has been invited to chair a panel on Planning Global Strategy at the Global Class Actions Symposium to be held in Lisbon, Portugal November 12-13. As collective redress is one of the fastest developing and most dynamic sectors of the law, David Scott will moderate an in-depth conversation on class-action regimes across European and U.S. jurisdictions.
Joseph P. Guglielmo Appointed Co-Lead Counsel
Scott+Scott Consumer Practice Group Chair Joseph P. Guglielmo has been appointed Co-Lead Counsel in In re: Consumer Vehicle Data Tracking Collection (No. 1:24-MD-3115-TWT), a multidistrict litigation pending in the United States District Court for the North District of Georgia before United States District Judge Thomas W. Thrash, Jr.
Scott+Scott Files Class Action Against Stellantis
Scott+Scott Amsterdam on behalf of the non-profit foundation Fiat Chrysler Investors Recovery Stichting (“FCIRS”) on August 28, 2024, filed a securities class action lawsuit against Fiat Chrysler’s legal successor Stellantis, alleging that the automobile manufacturer for years cheated regulators and the broader public in relation to emissions testing.
Scott+Scott Files Class Action Against Endava, PLC
Scott+Scott Attorneys at Law LLP, along with The Schall Law Firm as co-counsel, today filed a securities class action on behalf of one investor and other shareholders who purchased Endava securities (NYSE: DAVA) between May 23, 2023, and February 28, 2024. Endava provides technology services for clients in the consumer products, healthcare, mobility, and retail sectors.
Scott+Scott Launches Canada Website
We are thrilled to announce that Scott+Scott Attorneys at Law LLP earlier today launched its bilingual Canadian website www.scott-scott.ca. As a global law firm, the new website is specifically tailored to our Canadian neighbors. Coinciding with the launch of our Canada website, a securities class action against CAE Inc. and its executives was recently filed before the Superior Court of Québec.
Scott+Scott Files Class Action Against Orthofix Medical, Inc.
Scott+Scott Attorneys at Law LLP, along with The Schall Law Firm as co-counsel and Ward Smith & Hill as of counsel, today filed a securities class action lawsuit in the United States District Court of Texas against the global spine and orthopedics manufacturer Orthofix Medical, Inc. [NASDAQ: OFIX).
Scott+Scott Files Class Action Lawsuit Against XPEL Inc.
Scott+Scott Attorneys at Law LLP recently filed a class action lawsuit against XPEL Inc. and its chief executive officers on behalf of investors who – between November 8, 2023 and May 2, 2024 – purchased securities issued by the manufacturer of protective automobile paint and window coatings.
Scott+Scott Secures $35 Million Settlement
Scott+Scott Attorneys at Law LLP, along with Cafferty Clobes Meriwether & Sprengel LLP and Kirby McInerney LLP as co-counsel, last week announced a $35 million settlement reached with Apple Inc. and Apple Value Services, LLC relating to an alleged gift card scam impacting thousands of consumers nationwide. The settlement resolves the class action lawsuit Carl […]
Fox Factory Holding Corp.
The complaint alleges, that during the Class Period, Defendants made misleading statements and omissions regarding the Company’s business, financial condition, and prospects. Specifically, Defendants misled the market concerning demand for Fox Factory’s products and inventory levels. After the Company’s filing of its Form 8-K with the SEC, the price of Fox Factory’s common stock closed […]
Scott+Scott Bolsters Antitrust Practice Group
Scott+Scott Attorneys at Law, a global law firm that represents victims of antitrust violations, securities fraud, and other wrongdoing, today announced the strategic addition of four highly respected antitrust partners. The new additions include Karin Garvey, Robin A. van der Meulen, Matthew Perez, and Brian Hogan. Managing Partner David R. Scott commented that “we are […]
Scott+Scott Law Firm Opens Delaware Office
Scott+Scott Attorneys at Law, a global law firm that specializes in complex litigation, is excited to announce the opening of its latest office in Wilmington, Delaware. This expansion underscores the Firm’s commitment to pivotal jurisdictions that serve the clients’ needs and interests. “As we continue to expand our presence across key jurisdictions, the opening of […]
Recognition: Delaware’s Top 40 Under 40
The National Trial Lawyers proudly announces the selection of Paige Alderson, a distinguished member of Scott+Scott, as an NTL ‐ Civil Plaintiff ‐ Top 40 under 40 Trial Lawyer in the state of Delaware. The Top 40 Under 40 distinction is bestowed upon a select group of attorneys who exhibit superior qualifications, exemplary trial results, […]
Santander, Lloyds Banking Group and MotoNovo face compensation claim for overcharging approximately 1 million consumers across the UK for used car finance
Approximately one million used-car buyers across the UK could be owed compensation for interest rate overcharging as a result of the operating models used by finance providers, according to legal claims filed at the Competition Appeal Tribunal on Friday 21st July. • Three major legal actions, the “Car Finance Claim”, have been launched in the […]
DRD Partnership
Former Ofgas head Clare Spottiswoode brings claim to seek compensation formillions of electricity customers in Great Britain
Court Refuses to Dismiss the EthereumMax Case
Big Win for Investors Means Bad News for Celebrity Promoters On Tuesday, June 6, 2023, US District Judge Michael Fitzgerald in Los Angeles denied in part various motions to dismiss a case alleging that Kim Kardashian, Floyd Mayweather Jr., Paul Pierce (among others), engaged in fraudulent and misleading activities concerning the promotion of the EMAX […]
SEVEN SCOTT+SCOTT ATTORNEYS RECONGIZED IN 2023 LAWDRAGON 500 LEADING PLAINTIFF FINANCIAL LAWYERS
Scott+Scott is delighted to announce that seven of our attorneys have been selected for inclusion in “Lawdragon’s 500 Leading Plaintiff Financial Lawyers in America” guide.
Crypto Lawyers Bet Big on Class Action Lawsuits as Market Slides
As the Biden administration ramps up its scrutiny of the cryptocurrency industry, a handful of small litigation shops are piling up class actions against crypto exchanges and digital token issuers, pursuing theories that could shape how decades-old laws apply to the emerging field.
Northeastern Farmers Sue Nation’s Largest Dairy Cooperative for Antitrust Violations
Northeastern dairy farmers today filed a federal class action lawsuit accusing the nation’s largest dairy cooperative, Dairy Farmers of America (“DFA”), of violating federal antitrust laws.
Crypto Mania: Behind the hype of cryptocurrencies
David Scott, the Firm’s managing partner, was recently interviewed by an Australian Broadcasting investigative reporter for an episode of Four Corners focused on the crypto craze.
Scott-Scott.com – A new look to reflect what we have become
Scott+Scott has experienced incredible growth over the past decade. Along with building our team and capabilities, we have greatly expanded our physical presence in new markets and jurisdictions with offices in 10 major cities, including New York, London, Amsterdam, and Berlin.
L Brands Inks $90M Global Deal For ‘Toxic’ Workplace Suits
Multichain specialty retailer L Brands announced a $90 million corporate governance reform agreement Friday to settle multiple derivative lawsuits seeking damages arising from “toxic” workplace conditions, including sexual harassment.
Scott+Scott hires Deutsche Bahn counsel to lead new office
Markus Hutschneider, former head of case management competition litigation for Deutsche Bahn, has joined Scott+Scott to head its new competition litigation-focused Berlin office.
TikTok Faces Suit Over Child Privacy From London Preteen
Judge rules in favor of allowing the 12-year-old plaintiff to remain anonymous in her pursuit of claims that the video-sharing app TikTok is illegally exploiting the personal data of children.
Perspective: Litigation – State of pay?
Scott+Scott managing partner David Scott comments on how changes in legislation like the UK’s Consumer Rights Act 2015 have led to an increase of class actions led by pension funds as they seek to recover investment losses and improve corporate governance.
Scott+Scott Launches Berlin Office With Antitrust Pro
US plaintiffs firm Scott+Scott Attorneys at Law LLP announced Thursday it is launching a Berlin office led by an antitrust expert from Deutsche Bahn in an effort to cater to large multinationals seeking damages for breaches of competition law.
Teamsters Fund Sues AllianzGI For Hedge Fund Losses
Scott+Scott filed suit on behalf of Participants in the Teamster Members Retirement Plan against Allianz Global Investors and its subsidiaries, saying investors in a hedge fund it managed lost nearly $1 billion.
Car Shipping Cartel Faces £150M Class Action
Five shipping companies fined for running a cartel for transporting cars to the UK have become the target of a £150 million ($189 million) US-style class action in London led by law firm Scott+Scott UK LLP.
Class action could mean refund of £60 per new car
Dealerships could be in line for a refund of up to £60 per new car that they bought, thanks to a class action against five major shipping companies.
SHIPWRECK Millions of UK drivers could receive compensation after shipping company scam saw new car prices rise
Scott+Scott files legal action in the UK’s Competition Appeal Tribunal under the Consumer Rights Act in a bid to win back some money for consumers who bought or leased a new motor and may have been overcharged due to price-fixing scheme.
Class Action Comes To UK With Major Forex Rigging Suit
Scott+Scott, who led a US class action against banking giants over allegations of foreign exchange rigging, files consumer antitrust suit in a test case for US-style class actions brought in England.
Gulf Utility Providers File Damages Suits Against Prysmian, Others Over Power-cable Cartel
Scott+Scott Netherlands files suit on behalf of state utility companies in the Gulf region against power-cable producers over their involvement in a multiyear global cartel.
The CAT and the (alleged) Fiddle. The currency trading scandal continues to dog the banks.
Scott+Scott filed a collective-action case at the Competition Appeal Tribunal (CAT) against currency traders for foreign exchange rigging. No one is laughing now.
Banks face £1 billion lawsuit over foreign exchange rigging
Five banks face a £1 billion class action lawsuit in Britain for allegedly rigging the foreign exchange market. Scott+Scott predicts that the class action will be joined by “tens of thousands” of entities, such as pension funds.
Barclays, JP Morgan among banks facing UK class action over currency-rigging
Barclays, JP Morgan, RBS, UBS, and Citigroup are being sued by investors over allegations they rigged the global foreign exchange market in a claim estimated to be worth more than £1 billion ($1.24 billion).
Barclays and RBS among banks hit by £1bn forex rigging lawsuit
Barclays and the Royal Bank of Scotland (RBS) are among five banks targeted in a £1 billion class action lawsuit over forex rigging that was filed today through the Competition Appeal Tribunal (CAT) as a collective action.
Barclays, JPMorgan Face UK Forex-Rigging Class Action
Five banks sued in a UK antitrust court by investors over allegations that they manipulated the global foreign exchange market in a US-style class action seeking more than £1 billion ($1.2 billion).
Five banks face civil lawsuit in London over forex dealing
Scott+Scott files European version of a class-action lawsuit that resulted in $2.3 billion of settlements in the US Claim dealers manipulated FOREX markets and caused investors losses on currency trades.
EU FINES FIVE BANKS €1.1BN OVER FOREIGN EXCHANGE CARTEL
Brussels has fined banks €1.07 billion for participating in cartels to manipulate the foreign exchange market for 11 currencies. Lawyers for investors in the US civil case have been waiting for the ruling to launch the European leg of claims.
EU fines Barclays, Citi, JP Morgan, MUFG and RBS $1.2 billion for FX rigging
Barclays, Citigroup, JP Morgan, MUFG, and Royal Bank of Scotland were fined a combined €1.07 billion ($1.2 billion) by the European Union for rigging the multi-trillion-dollar foreign exchange market.
UK banks fined €1bn by EU for rigging foreign exchange market
Five banks have been fined more than €1 billion (£875 million) by the European Union for rigging the multi-trillion-dollar foreign exchange market. European Commission says decision shows ‘collusive behaviour will not be tolerated.
Big Banks Fined by EU for Foreign-Exchange Market Misconduct
European Union authorities on Thursday fined five global banks a total of €1.07 billion ($1.2 billion) for manipulating the foreign-currency market by exchanging sensitive information and trading plans through online chat rooms to gain financially.
Scott, Lowey Take Lead Spot In Bond Price-Fix Suit
Scott+Scott Attorneys at Law LP and Lowey Dannenberg PC to head up a proposed class action on behalf of investors who say major banks plotted for several years to fix Fannie Mae and Freddie Mac bond prices.
Scott+Scott launches in Amsterdam
Scott+Scott opens an office in the Netherlands as it seeks to address client concerns about the effect of Brexit on competition litigation.
Scott+Scott Expands International Footprint with Amsterdam Office
Scott+Scott announces the opening of Scott+Scott Europe BV in Amsterdam, continuing its global expansion.
Scott+Scott Announces Class Action Suit on Behalf of R-CALF USA
Scott+Scott files a class action lawsuit in federal district court in Chicago alleging the nation’s four largest beef packers violated US antitrust laws by unlawfully depressing the prices paid to American ranchers.
Vodafone Hits Visa, MasterCard With UK Swipe Fee Suit
Vodafone and its affiliates allege that the merchant service charges they’re required to pay for each Visa and MasterCard credit and debit card transaction have been “material times higher” than they should be.
Scott+Scott responds to Sherman Joyce’s Law360 guest article, “Gov’t Opioid Suits Hide Attorney’s Personal Interests.”
New York’s banking regulator said Tuesday that Standard Chartered Bank will pay $40 million to resolve claims that it participated in a scheme to rig foreign exchange benchmark rates.
Banks Accused Of Rigging Libor After Post-Scandal Overhaul
Putnam Bank accuses the owner of the New York Stock Exchange of conspiring with some of the world’s largest banks to artificially deflate a key financial benchmark.
Kodak Takes Antitrust Row With Goldman, Others To UK
Eastman Kodak Co. units file a claim in the High Court of Justice of England and Wales against Goldman Sachs, Glencore and others with a lawsuit accusing them of manipulating aluminum prices.
Swipe Fee Ruling Opens Visa, MasterCard To Wave Of Claims
Three senior Court of Appeal judges ruled that Visa Inc. and MasterCard Inc. set the swipe fees, also known as interchange fees — the bank-to-bank charges levied on each credit card purchase — at an unlawful level that restricted competition.
Visa and MasterCard interchange fees restricted competition, English court rules
Visa and MasterCard have lost appeals in their long-running battle against a host of retailers, as an English court found their multilateral interchange fee schemes restrict competition.
US Fines HSBC $175m Over ‘unsound’ FX Trading
HSBC has been fined $175 million by the US Federal Reserve for failing to stop its traders from misusing confidential customer information and for telling competitors about their own trading positions.
Standard Chartered is among five banks paying $111m over foreign-exchange rigging
Standard Chartered is among five banks that have collectively agreed to settle American legal claims relating to rigging prices in the $5 trillion-a-day foreign exchange market.
Banks settle currency manipulation claims for $111m
Five more banks have agreed to settle claims that they manipulated currency markets, as the foreign exchange scandal continues to haunt the financial industry.
UBS, HSBC Pen $28M Settlement In Swaps-Rate Class Action
Banking giants agree to pay $14 million to settle class action claims that they participated in a conspiracy with other banks to manipulate a benchmark interest rate used to set terms for swaps transactions.
Visa, Mastercard Hit With More UK Swipe Fee Antitrust Claims
A group of London restaurateurs and private clubs, the Bourne Leisure travel group, and discount retailer Poundland have filed another round of competition claims in the UK against Visa and MasterCard over interchange fees.
Watch Out Big Banks: The Claims Are Coming, And Here’s The Lawyer Who’s Bringing Them
After securing settlements of over $2 billion for people in the US who purchased foreign currency and foreign exchange instruments from big banks, David Scott, managing partner of Scott+Scott, has been assessing the appetite for similar claims in the EU.
A Hole in the Market: Scott+Scott Opens in the City With Plans to Exploit Conflicts and Cash in on Competition Class Actions
Connecticut-based Scott+Scott hired Freshfields Bruckhaus Deringer competition litigation lawyer Belinda Hollway to head up its first City office and European base.
Seven Banks to Pay $324 Million to Resolve ISDAfix Claims
Seven banks have agreed to pay $324 million to settle claims they conspired to rig the ISDAfix benchmark, which is used in the sale of interest-rate derivatives and other financial instruments.
Scott+Scott’s London Calling Grows Stronger
US claimant class action firm establishes new links with London’s distinguished Brick Court Chambers as it develops further plans for Forex litigation.
Scott+Scott Obtains Restraining Order in Action Over Madoff Losses
Scott+Scott LLP’s New York-based partner Beth Kaswan and her team of litigators won a critical court order yesterday on behalf of the firm’s client New York University.
NOVEL INVESTOR RECOVERY: Scott + Scott successfully sues two large banks under the Trust Indenture Act of 1939- a first in federal securities litigation.
Scott+Scott filed suit on behalf of the investor Plaintiffs claiming that when the two banks took over trustee duties on a portfolio of loans from Washington Mutual NA, they ignored the presence of loans with underwriting defects. Scott +Scott was the first firm ever to seek to assist investors by pursuing remedies under the Trust Indenture Act of 1939.
Google – Record-setting $310 million corporate reform settlement
In a derivative lawsuit settlement with one of the highest dollar values ever, Google parent Alphabet agreed to establish a diversity, equity, and inclusion fund as part of the settlement of the consolidated derivative litigation relating to the Company’s alleged mishandling of sexual harassment allegations against senior executives and overall culture of sexual discrimination and harassment.
Wendy’s Data Breach – $50 Million Settlement and Improved Security Protocols
In 2016, First Choice Federal Credit Union and other financial institutions sued Wendy’s fast food restaurant over a five-month-long data breach, citing the vulnerabilities in the chain’s data security systems that allowed hackers to access 18 million payment cards. Scott+Scott acted as co-lead counsel representing the financial institution and the putative class in this action.
Foreign Exchange – $2.3 Billion in Settlements
In 2013, Scott+Scott brought suit against some of the world’s largest banks alleging the banks colluded to fix the prices of foreign exchange transactions. Scott+Scott represents individuals and institutional investors, public pension funds, police and fire pension funds, and Taft-Hartley union funds.