Antitrust

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Overview

RK&O has decades of experience representing companies and their senior executives in complex and high-profile antitrust investigations and litigations. Our antitrust litigators are aggressive, strategic, and deeply knowledgeable about antitrust law and the industries in which our clients operate.

Experience

  • Interdealer broker ICAP plc and affiliates in the defense of antitrust, Commodity Exchange Act, Racketeer Influenced and Corrupt Organization Act (RICO), and related aiding and abetting claims brought in multiple federal court and foreign proceedings by various class action plaintiffs alleging manipulation of numerous financial benchmarks including U.S. Dollar Libor, Yen Libor, Euroyen Tibor, Euribor, and the Bank Bill Swap Rate. We have successfully obtained dismissal of the claims against our clients on antitrust standing and personal jurisdiction grounds. Several of these decisions are now on appeal to the United States Court of Appeals for the Second Circuit.
  • Twelve interdealer broker entities and affiliates in the defense of antitrust, RICO, and related aiding and abetting claims brought in the United States District Court for the Southern District of New York alleging manipulation of the Swiss Franc Libor rate. We obtained dismissal of the claims against all our clients.
  • Interdealer broker ICAP Capital Markets LLC in the defense of antitrust claims brought in the United States District Court for the Southern District of New York alleging manipulation of the Isdafix swap reference rate. The case settled after we litigated through fact and expert discovery, and the parties had fully briefed the Plaintiffs’ motion for class certification and the Defendants’ Daubert motions to exclude all of the Plaintiffs’ experts.
  • Leading Argentine sports marketing company in the defense of antitrust, RICO, and Florida law claims brought in federal court by disappointed bidders alleging that our client conspired to obtain the television broadcast rights to major South American soccer tournaments through bribery.  Plaintiffs alleged Sherman Act claims for conspiracy in restraint of trade and monopsonization of the Americas television rights market.  We obtained dismissal of the federal antitrust claims and analogous Florida state-law claims on the grounds that plaintiffs had failed to allege harm to consumers.
  • Wachovia in putative antitrust class actions alleging a price-fixing conspiracy and manipulation in the auction-rate securities market. RK&O obtained dismissal of complaints by the Southern District of New York and affirmance of the dismissal by the Second Circuit. See Mayor and City Council of Baltimore v. Citigroup, Inc., et al., 709 F.3d 129 (2d Cir. 2013).
  • Former head of the municipal derivatives sales desk at a major securities firm in a DOJ criminal antitrust investigation (as well as SEC and OCC investigations) concerning alleged bid-rigging and other alleged anti-competitive practices in the municipal derivatives market.
  • Financial Guaranty Insurance Company ("FGIC") against alleged violations of California’s Cartwright Act brought by 24 California municipalities and 2 non-profits in connection with municipal bond issuances in that state. Our client was dismissed from the action after the antitrust claim was successfully challenged under California’s Anti-SLAPP statute.
  • Two traders of a global bank in the DOJ’s criminal antitrust and fraud investigation of foreign exchange trading practices.
  • Four compliance officers of a global bank in the DOJ’s criminal antitrust and fraud investigation of foreign exchange trading practices.
  • Two traders of a global bank in civil antitrust litigation filed in the Southern District of New York relating to foreign exchange trading practices.
  • Trader of a global bank in civil litigation and a DOJ antitrust investigation of government agency bond trading practices.
  • Former president of an automotive parts sales company in connection with Department of Justice antitrust inquiry into the company’s alleged coordinated pricing efforts with its only competitor.

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