by Heins Mills & Olson on April 7, 2014
The Court will hold a hearing on June 6, 2014 in In re Municipal Derivatives Antitrust Litigation to consider whether recent settlements with Bank of America, N.A., GE Funding Capital Market Services, Inc., Trinity Funding Co., LLC and Trinity Plus Funding Co., LLC should be approved as fair, reasonable, and adequate. The proposed settlements are the latest in this class action alleging bid rigging and other anticompetitive conduct in the municipal derivatives industry by providers and brokers of municipal derivatives sold in the U.S. Settlements were previously reached with Morgan Stanley, JP Morgan, Wachovia Bank, N.A., n/k/a Wells Fargo Bank, N.A., and Wells Fargo & Company. Heins Mills & Olson joined Sullivan & Cromwell LLP, along with many other antitrust law firms, on the complaint. We have been involved in assisting discovery from the defendants, preparing settlement notice to class members, and reviewing and analyzing audiotapes and other documents produced in the case.