Scott+Scott Secures $120M Recovery in Case Against Banks


Scott+Scott is pleased to announce the approval of a landmark settlement of $80 million 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 $120 million 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.

We are deeply grateful that during the proceedings, District Judge Victor Marrero highlighted the attorneys’ extraordinary effort by noting: “I thank you very much for the very lengthy consideration in this case. The quality of the professionalism of all counsel on both sides is quite impressive and made the Court’s job easier by virtue of the quality of such representation.”

The Court granted settlement approval on December 9, 2024. The case is: In re European Government Bonds Antitrust Litigation, No. 1:19-cv-02601-VM-SN (S.D.N.Y).