Nada S. Sulaiman

Current Cases

In re Interest Rate Swaps Antitrust Litigation

In re Interest Rate Swaps Antitrust Litigation (S.D.N.Y.): Cohen Milstein serves as Co-Lead Counsel and represents the Public School Teachers’ Pension and Retirement Fund of Chicago and other proposed buy-side investor class members in this ground breaking putative antitrust class action against numerous Wall Street investment banks. Plaintiffs allege that the defendants conspired to prevent class members from trading IRS on modern electronic trading platforms and from trading with each other, all to protect the banks’ trading profits from inflated bid/ask spreads.

Stock Loan Antitrust Litigation

Iowa Public Employees Retirement System et al. v. Bank of America Corp. (S.D.N.Y.): Cohen Milstein is co-counsel in this groundbreaking putative class action, in which investors accuse Morgan Stanley, Goldman Sachs, Credit Suisse, UBS, J.P. Morgan, and other Wall Street banks of conspiring to thwart the modernization of and preserve their dominance over the $1.7 trillion stock loan market. On September 1, 2023, the court granted preliminary approval of a historic settlement of $499 million in cash along with injunctive relief against defendants Morgan Stanley, Goldman Sachs, UBS, JP Morgan, and EquiLend, bringing total settlements to $580 million thus far. Litigation against Bank of America continues.

Past Cases

ExxonMobil -Villagers of Aceh Litigation

Doe, Aceh, Indonesia v. ExxonMobil Corporation (D.D.C.): Cohen Milstein represented eleven villagers from Aceh, Indonesia, who alleged that they or their relatives endured horrific human rights abuses, including murder, torture, sexual violence, and kidnapping, at the hands of Indonesian soldiers contracted by ExxonMobil to guard its oil operations in the region. On May 15, 2023, a week before a jury trial was to start and after 20 years of litigation, the case settled. Although the case was litigated in U.S. federal court, Indonesian law applied to Plaintiffs’ claims and was applied by the Court. The case set numerous legal precedents during its 20-year history, during which it saw two trips to the D.C. Circuit Court of Appeals (decided January 2007 and July 2011) and one to the Supreme Court (certiorari was denied in 2008). Each time, novel issues of foreign policy impact, extraterritorial jurisdiction, and choice of law were briefed and considered by the Court of Appeals. In August 2022, months before trial, the Court largely denied ExxonMobil’s motion for summary judgment, finding most of its arguments “entirely meritless.”

UFCW & Employers Benefit Trust v. Sutter Health, et al.

Sutter Health Antitrust Litigation (Sup. Ct., San Fran. Cty., Cal.): On August 27, 2021, the Court granted final approval of a $575 million eve-of-trial settlement, which includes significant injunctive relief, in this antitrust class action against Sutter Health, one of the largest healthcare providers in California, for restraining hospital competition through anticompetitive contracting practices with insurance companies. Cohen Milstein was one of five firms that litigated this case since 2014 on behalf of a certified class of self-insured employers and union trust funds. California’s Attorney General joined the suit in March 2018.