Your legal rights are affected even if you do nothing. Please read the Notice carefully.
IF YOU TRANSACTED IN A STERLING LIBOR-BASED DERIVATIVE AT ANY TIME FROM JANUARY 1, 2005 THROUGH AT LEAST DECEMBER 31, 2010 (“CLASS PERIOD”), YOUR RIGHTS MAY BE AFFECTED BY A PENDING CLASS ACTION SETTLEMENT, AND YOU MAY BE ENTITLED TO A PAYMENT FROM THE SETTLEMENT.
|YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT:
|If you do nothing in connection with the Settlement, you will receive no payment from the Settlement and you will be bound by past and any future Court rulings, including rulings on the Settlement, if approved, and the settlement release. See question 18 in the Notice.
|FILE A CLAIM FORM
|The only way to receive your share of the Net Settlement Fund is to complete and electronically submit a timely and valid Claim Form to the Settlement Administrator by no later than January 16, 2024, or to mail your completed Claim Form so that it is postmarked no later than January 16, 2024. See question 12 in the Notice.
FROM THE SETTLEMENT
|If you wish to exclude yourself from the Settlement, you must submit by U.S. first class mail (or, if sent from outside the U.S., by a service that provides for guaranteed delivery within five (5) or fewer calendar days of mailing) or deliver a written request to the Settlement Administrator so that it is received by October 19, 2023. If you exclude yourself, you will not be bound by the Settlement, if approved, or settlement release, and you will not be eligible for any payment from the Settlement. See questions 19 – 23 in the Notice.
OBJECT TO THE
|If you wish to object to the Settlement, you must file a written objection with the Court and serve copies on Plaintiffs’ Counsel and Deutsche Bank’s counsel so that it is received by October 19, 2023. You must be and remain within the Settlement Class to object. See questions 24 and 25 in the Notice.
PARTICIPATE AT THE
|You may ask the Court for permission to speak about the Settlement at the Fairness Hearing by including such a request in your written objection, which you must file with the Court and serve on Plaintiffs’ Counsel and Deutsche Bank’s counsel so that it is received by October 19, 2023. The Fairness Hearing is scheduled for November 16, 2023. See questions 28 – 30 in the Notice.
APPEAR THROUGH AN
|You may enter an appearance through your own counsel at your own expense. See question 30 in the Notice.
It is important that you refer to this website as no other notice may be published of any such changes.
What is this Action about?Representative Plaintiffs allege that Defendants, including Deutsche Bank, unlawfully and intentionally manipulated a benchmark interest rate, the Sterling London Interbank Offered Rate (“Sterling LIBOR”), to fix the prices of Sterling LIBOR-Based Derivatives in violation of the Commodity Exchange Act, 7 U.S.C. § 1, et seq. (“CEA”), the Sherman Antitrust Act, 15 U.S.C. § 1, et seq., the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. § 1961, et seq. (“RICO”), and common law from at least January 1, 2005 through December 31, 2010 (the “Class Period”).
Representative Plaintiffs allege that Defendants, as members of the panel that set Sterling LIBOR, made submissions to set the rate that did not reflect the true cost of borrowing funds in the interbank money market but were, instead, intended to fix Sterling LIBOR-Based Derivatives at prices that would increase the profitability of Defendants’ Sterling LIBOR-Based Derivatives positions and cause investors located in or trading through the United States to be overcharged or underpaid in their Sterling LIBOR-Based Derivatives transactions. Representative Plaintiffs transacted in Sterling LIBOR-Based Derivatives during the Class Period.
Deutsche Bank maintains that it has good and meritorious defenses to Representative Plaintiffs’ claims and would prevail if the case were to proceed. Nevertheless, to settle the claims in this lawsuit, and thereby avoid the expense and uncertainty of further litigation, Deutsche Bank has agreed to pay a total of $5,000,000 (the “Settlement Amount”) in cash for the benefit of the proposed Settlement Class. If the Settlement is approved, the Settlement Amount, plus any interest earned (the “Settlement Fund”), less any taxes, the reasonable costs of Class Notice and administration, any Court-awarded attorneys’ fees, litigation expenses and costs, and any other costs or fees approved by the Court (the “Net Settlement Fund”) will be divided among all Settlement Class Members who file timely and valid Claim Forms.
If the Settlement is approved, the Action will be resolved against Deutsche Bank, and the Action will continue against the non-settling Defendants. If the Settlement is not approved, Deutsche Bank will remain in the Action, and Representative Plaintiffs will continue to pursue their claims against Defendants.
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