August 03, 2016

A New York federal judge on Wednesday named Cohen Milstein Sellers & Toll PLLC and Quinn Emanuel Urquhart & Sullivan LLP co-lead interim counsel in a proposed class action accusing Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co. and other major financial institutions of rigging the market for interest-rate swaps.

The suit filed in November 2015 by the Public School Teachers’ Pension and Retirement Fund of Chicago, a longtime client of Cohen Milstein, accuses more than a dozen financial institutions of failing to open up interest rate swaps, a derivative method based on speculation over interest rates, to exchange trading. Eight applicants for lead counsel were filed on July 22.

The full Law360 article can be read here