Credit Suisse Prevails In Proposed Class Action

A Cahill litigation team prevailed on behalf of Credit Suisse in obtaining an order compelling the plaintiff to arbitrate its claims in a proposed class action challenging the bank’s alleged use of “Last Look” in foreign exchange trading.

Plaintiff brought breach of contract claims alleging that the bank rejected or delayed certain foreign exchange trades.  On Thursday, April 12, 2018, Judge Schofield of the U.S. District Court for the Southern District of New York ruled that Plaintiff’s claims must be arbitrated pursuant to the rules of the National Futures Association.

Credit Suisse Group AG is an international financial services group. The Group, led by Tidjane Thiam, David R Mathers and Pierre-Olivier Marie Bouee,  provides investment banking, private banking, and asset management services to customers located around the world.

Cahill advised Credit Suisse with a team including Jason M. Hall (Pictrue), David G. Januszewski, Herbert S. Washer, Kathleen E. Farley, Miles Wiley, Loryn Davis and Caroline Incledon

 

Involved fees earner: Jason M. Hall – Cahill Gordon & Reindel; David Januszewski – Cahill Gordon & Reindel; Herbert Washer – Cahill Gordon & Reindel; Caroline Incledon – Cahill Gordon & Reindel; Kathleen Farley – Cahill Gordon & Reindel; Miles Wiley – Cahill Gordon & Reindel; Loryn Davis – Cahill Gordon & Reindel;

Law Firms: Cahill Gordon & Reindel;

Clients: Credit Suisse;

 

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Author: Ambrogio Visconti