LovellStewartHalebianJacobson

Located at 61 Broadway, Suite 501 New York, New York 10006 212-608-1900

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FIRM NEWS

In re: Platinum and Palladium Commodities Litigation 10-cv-3617 (S.D.N.Y.)–On July 15, 2014, the Honorable William H. Pauley III preliminarily approved the Futures Plaintiffs’ partial settlement of this action with (a) the Moore Capital Defendants for $48,400,000, and (b) Defendant Joseph Welsh for a judgment of $35,000,000 in respect of the negligence claim against him collectable solely from his personal assets consisting of his rights against certain insurers. Defendant MF Global, Inc. is not part of the proposed settlement. Lovell Stewart is sole lead counsel for the Futures Plaintiffs in this action. Persons who traded in NYMEX platinum futures contracts and/or NYMEX palladium futures contracts during the time period June 1, 2006 through April 29, 2010 should save their relevant trading records because they may file claims to participate in this proposed settlement. Please check this website and the settlement website for updates regarding the proposed settlement. The settlement website is http://platinumpalladiumfutureslitigation.com. Contact Christopher M. McGrath, Esq. (CMcGrath@lshllp.com).

Precision Associates, Inc. et al., v. Panalpina World Transport (Holding) LTD. et al, 08-cv-0042 (E.D.N.Y.)–On June 27, Plaintiffs filed a motion seeking preliminary approval of settlements with Defendants Panalpina, Geodis, DSV, and Jetspeed for an immediate cash payment of $44 million plus additional sums to be paid from proceeds from another litigation. Lovell Stewart is co-lead counsel in this action. Class Members can find additional information on https://www.freightforwardcase.com Contact Benjamin M. Jaccarino, Esq. (Bjaccarino@lshllp.com).

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Christopher M. McGrath

61 Broadway, Suite 501
New York, NY 10006
212-608-1900

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Chris McGrath is a partner who practices out of the Firm’s New York office. Mr. McGrath is a graduate of the University of Missouri-Columbia, Bachelor of Arts with honors in 2001. He graduated from the University of Missouri School of Law in 2004 where he was a member of The Journal of Dispute Resolution.

Mr. McGrath was admitted to practice in the State of New York in 2005. Mr. McGrath has been with the firm since 2005 and has litigated primarily commodity manipulation and price-fixing class actions. With Mr. Essenmacher and Mr. Lovell, he had an important role in successfully representing traders of 10-year treasury note futures contracts in Kohen v. Pac. Inv. Mgmt. Co. LLC, 05-cv-4681 (RAG) (N.D. Ill.). This action resulted in a settlement of $118,750,000, while the fully briefed motion for summary judgment was pending, which is the second largest class action recovery in the history of the Commodity Exchange Act. Mr. McGrath also was a principal attorney for the Firm in successfully representing traders of New York Mercantile Exchange (“NYMEX”) natural gas futures contracts in In re Amaranth Natural Gas Commodities Litig., 07-cv-6377 (SAS) (S.D.N.Y.). This action resulted in a settlement of $77,100,000, made during merits expert discovery.

Mr. McGrath is currently a principal attorney for the Firm in representing purchasers of NYMEX platinum and palladium futures contracts in In re Platinum and Palladium Futures Litig., 10-cv-3617 (WHP) (S.D.N.Y.), where there is a proposed partial settlement of $48,400,000 with certain defendants; purchasers of Chicago Mercantile Exchange (“CME”) Class III milk futures contracts and physical cheese and milk in In re Dairy Farmers of America, Inc. Cheese Antitrust Litig., 09 Civ. 03690, (RMD) (N.D. Ill.) where there is a proposed partial settlement of $46,000,000 with certain defendants.

Mr. McGrath’s other active cases include representing commodity futures traders in In re Crude Oil Commodity Futures Litig., 11-cv-3600 (WHP) (S.D.N.Y.); In re Term Commodities Cotton Futures Litig., 12-cv-05126 (ALC) (S.D.N.Y.); and he has successfully prosecuted three intellectual property class actions in which the Firm was the primary class counsel.

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