Cahill Gordon & Reindel LLP

03/18/2020 | News release | Archived content

Firm News: Cahill Wins Dismissal for Credit Suisse in SSA Bonds Antitrust Class Action

Date: 03/18/20

A Cahill litigation team prevailed on behalf of Credit Suisse in defeating a purported class action brought by plaintiffs alleging that Credit Suisse, other bank defendants, and certain traders violated the antitrust laws in connection with trading in the multi-trillion dollar market for U.S. dollar-denominated supranational, sovereign, and agency ('SSA') bonds. In two separate decisions, one issued on September 30, 2019, and one issued on March 18, 2020, Judge Edgardo Ramos of the U.S. District Court for the Southern District of New York granted Credit Suisse's motion to dismiss all claims asserted against it ruling that plaintiffs had failed to allege personal jurisdiction or venue, antitrust standing, or a plausible antitrust conspiracy.