Introduction to Lovell Stewart Halebian Jacobson
Lovell Stewart Halebian Jacobson LLP (with its predecessors, “Lovell Stewart” or the “Firm”) is the premier class action law firm prosecuting claims involving commodity manipulation and price fixing, and exchange related antitrust claims. See Seth Lubove and Elizabeth Stanton, The Power of Pimco, Bloomberg Markets, Vol. 17, No. 4, April 2008, available here. (“What [Bill] Gross is to the world of bonds, [Lovell Stewart] is to commodities-manipulation and price-fixing lawsuits.”)
Lovell Stewart has overcome the opposition of the leading defense lawyers in order
- to produce what was at the time the largest class action price fixing settlement in the history of the Sherman Antitrust Act, In re Nasdaq Market Makers Antitrust Litigation, M.D.L. No. 123 (U.S.D.C. S.D.N.Y.),
- to conduct the first (and, we understand, only) successful trial by a Plaintiffs’ law firm in the United States District Court for the Southern District of New York of claims for price-fixing in violation of the antitrust laws.
- to produce, as Court-appointed sole lead counsel, the first and second largest, and as Court-appointed co-lead counsel, the third and fourth largest class action settlements of commodity manipulation claims in the history of the Commodity Exchange Act.
Building on its prior successes in cases involving copper, agricultural commodities, and exchange related claims, the Firm has been prosecuting as lead or co-lead counsel during the last three years claims alleging the fixing or manipulation of prices of platinum, palladium, steel, silver, West Texas intermediate crude oil, natural gas, milk, cheese, cotton, rice, potash, chocolate, eggs, LIBOR, and other items.
During the last three years, noteworthy settlements of cases in which the Firm has been involved include:
- Price fixing thin film transistor liquid crystal display panels ($1.1 billion approved settlement);
- Manipulating exchange-based initial public offering security prices (approved final settlement $570 million settlement);
- Fixing the prices of freight forwarding shipments (approved partial settlements so far of $134 million);
- Manipulating treasury note futures contract prices ($118,750,000 settlement);
- Misrepresenting facts and manipulating investment results (proposed partial settlements of $85.25 million);
- Manipulating natural gas futures contract prices ($77.1 million);
- Manipulating exchange-based platinum and palladium futures contract prices (proposed partial settlement of $48,400,000 plus a $35 million judgment and assignment);
- Fixing the prices of exchange-based milk futures contracts and physical cheese and milk (proposed partial settlement for $46 million).