In re LIBOR-Based Financial Instruments Antitrust Litigation, 11 MD 2262 (NRB) (S.D.N.Y.)

Sturman LLC represented a class of exchange-based traders whose investments were detrimentally affected by seven banks participating in a scheme to fix the London Interbank Offering Rate (LIBOR) rates, the average interest rate at which major banks borrow money from one another. The claims were brought by two Sturman LLC institutional investor clients specifically on behalf of investors who dealt in Eurodollars futures and/or options on the Chicago Mercantile Exchange from January 2003 through May 2011. The $187 million settlement, which received court approval in 2020, is the largest ever in a futures-only and options on futures-only case governed by the Commodity Exchange Act.