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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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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).

Flynn v. Bank of America, et. al. (S.D.N.Y.)–On June 13, 2014, Lovell Stewart Halebian Jacobson LLP filed a complaint on behalf of James J. Flynn and Dominic A. Morelli and of all investors similarly situated. In the complaint the Plaintiffs allege violations of the federal securities laws by certain brokerage firms and high frequency trading firms. The class action was commenced in the United States District Court for the Southern District of New York on behalf of public investors who purchased and/or sold shares of stock or stock options in the United States on a registered public exchange or a United States-based alternate trading system between April 18, 2009 to the present (the “Class Period”). The complaint alleges that these violations occurred in large part due to the existence and use of predatory order types that are largely unknown to the investing public but which give their users unfair advantages in the marketplace, especially when combined with the high frequency trading technology and algorithms available to certain market participants. For more information, please visit the firm’s website at: www.lshllp.com or contact Fred Isquith by email at fisquith@lshllp.com or telephone (212) 608-1900.


In re Aluminum Warehousing Antitrust Litig., 13-md-2481, (S.D.N.Y.)–On April 25, 2014, the Honorable Katherine B. Forrest denied the motion by the Goldman Sachs Defendants to stay discovery and accelerated the briefing on the motion by the London Metal Exchange (“LME”) Defendants to dismiss the claims on foreign sovereign immunity grounds, contemplating appropriate discovery into whether the challenged conduct by the LME constituted government or commercial conduct. The Court granted the motions to stay discovery by the JPMorgan Defendants and the Glencore/Pacorini Defendants. Contact Benjamin M. Jaccarino, Esq. (Bjaccarino@lshllp.com).

In Re: Rough Rice Commodity Litig., 11-cv-618, (N.D. Ill.) (JWD)–On April 16, 2014, Plaintiff executed a memorandum of understanding, subject to the negotiation of a final settlement agreement, with the Defendants to settle claims on behalf of persons who purchased Chicago Board of Trade rough rice futures contracts between July 8 and July 15, 2008, inclusive. Class members should save their records of purchase during this time period and supply their names and addresses to be sure that they receive their proof of claim and notice after the settlement, which is expected to be successfully completed by June 20, 2014. Contact Keith Andrews, Esq.


In re Dairy Farmers of America, Inc. Cheese Antitrust Litig., 09-cv-03690, (N.D. Ill.)–On March 12, 2014, the Honorable Maria Valdez substantially denied two motions to compel discovery filed by Defendant Schreiber Foods, Inc. Magistrate Judge Valdez (1) rejected Schreiber’s argument that it was entitled to discovery of certain undisclosed expert materials relating to damages estimates set forth in Plaintiffs’ memorandum of law in support of preliminary approval of their $46,000,000 proposed settlement with the DFA Defendants; (2) struck or modified multiple parts of Schreiber’s proposed contention interrogatories; and (3) rejected Schreiber’s argument that Plaintiffs’ responses to certain of Schreiber’s requests for admission were insufficient. Lovell Stewart is lead counsel for the Plaintiff class. Contact Christopher McGrath (cmcgrath@lshllp.com).

In re: Platinum and Palladium Commodities Litigation 10-cv-3617 (S.D.N.Y.)–On March 18, 2014, the Futures Plaintiffs filed a motion seeking preliminary approval of a partial settlement of this case with (a) the Moore 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 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 regarding preliminary approval of the partial settlement and other updates.  Contact Christopher M. McGrath, Esq. (CMcGrath@lshllp.com).

In re Dairy Farmers of America, Inc. Cheese Antitrust Litig., 09-cv-03690, (N.D. Ill.)–On March 17, 2014, the Honorable Robert M. Dow preliminary approved Plaintiffs’ proposed $46,000,000 settlement of the claims against the DFA Defendants alleging that the DFA Defendants conspired to fix the prices of physical cheese and milk, and Class III milk futures contract prices in violation of the Sherman Act and the Commodity Exchange Act between April 2004 – December 2006.  Class members should save their records of transactions and follow the official settlement website starting on March 27, 2014 for more information.  www.DairyFarmersDirectPurchaserAction.com. The deadline to file a proof of claim is October 20, 2014. Lovell Stewart is lead counsel for the Plaintiff class.  Contact Christopher McGrath (cmcgrath@lshllp.com).


In re Dairy Farmers of America, Inc. Cheese Antitrust Litig., 09-cv-03690, (N.D. Ill.)–On March 12, 2014, the Honorable Maria Valdez substantially denied two motions to compel discovery filed by Defendant Schreiber Foods, Inc. Magistrate Judge Valdez (1) rejected Schreiber’s argument that it was entitled to discovery of certain undisclosed expert materials relating to damages estimates set forth in Plaintiffs’ memorandum of law in support of preliminary approval of their $46,000,000 proposed settlement with the DFA Defendants; (2) struck or modified multiple parts of Schreiber’s proposed contention interrogatories; and (3) rejected Schreiber’s argument that Plaintiffs’ responses to certain of Schreiber’s requests for admission were insufficient. Lovell Stewart is lead counsel for the Plaintiff class. Contact Christopher McGrath (cmcgrath@lshllp.com).

In re Aluminum Warehousing Antitrust Litig., 13-md-2481, (S.D.N.Y.)–On March 6, 2014, the Honorable Katherine B. Forrest. appointed Lovell Stewart as co-lead counsel for the Direct Purchaser Plaintiffs in this action alleging violations of the federal antitrust laws by Goldman Sachs, Metro International Trade Services, the London Metal Exchange, and others for allegedly inflating aluminum prices, including the Midwest Transaction Price (also known as Midwest Premium or Platts MW Midwest Premium or the Platts Metals Weekly Premium). Contact Benjamin M. Jaccarino, Esq. (Bjaccarino@lshllp.com).


Kevin Maher v. Bank of Nova Scotia, Barclays Bank PLC, Deutsche Bank AG, HSBC Holdings PLC, Societe Generale. 14-cv-1459 (S.D.N.Y.)–On March 3, 2014, the Firm filed suit on behalf of gold trader Kevin Maher making the first allegations that the five banks responsible for setting the price for gold bullion had conspired to manipulate the London gold benchmark. The case is assigned to the Honorable Valerie Caproni. Contact Fred Isquith, Esq. (FIsquith@lshllp.com)

In re Facebook, Inc., IPO Securities and Derivative Litig., MDL 12-2389 (S.D.N.Y)–On February 14, 2014, the Honorable Robert W. Sweet denied the motion by NASDAQ for permission pursuant to 28 U.S.C. § 1292 (b) to appeal the denial of its motion to dismiss claims that NASDAQ failed to follow its rules and negligently failed to properly test and design its systems in connection with the Facebook IPO.


Lovell Stewart is Co-Lead Counsel for Plaintiffs and Christopher Lovell successfully argued on behalf of Plaintiffs.  Contact Victor Stewart, Esq. (VEStewart@lshllp.com) or Fred Isquith, Esq. (FIsquith@lshllp.com)

In re Dairy Farmers of America, Inc. Cheese Antitrust Litig., 09-cv-03690, (N.D. Ill.)–On February 13, 2014 the Honorable Robert M. Dow announced that the Court was denying the objections by a non-Settling Defendant to preliminary approval of Plaintiffs’ proposed $46,000,000 settlement of the claims against the DFA Defendants alleging that the DFA Defendants conspired to fix the prices of physical cheese and milk, and Class III milk futures contract prices in violation of the Sherman Act and the Commodity Exchange Act between April 2004 – December 2006.  Class members should save their records of transactions and follow this website for more information, including how to obtain the class notice after the court has approved the form and content of the notice and directed that they be distributed.  Lovell Stewart is lead counsel for the Plaintiff class and Christopher Lovell successfully argued against the non-settling Defendant’s motion for a protective order and in favor of Plaintiffs’ motion for preliminary approval. Contact Christopher Mooney (CMooney@lshllp.com) or Hannah Bock (HBock@lshllp.com).

Precision Associates, Inc. et al., v. Panalpina World Transport (Holding) LTD. et al, 08-cv-0042 (E.D.N.Y.)–On January 28, 2014, the Honorable John J. Gleeson denied substantially all of the motions by Defendants to dismiss claims that Defendants agreed to fix the prices of freight forwarding services in violation of Section 1 of the Sherman Antitrust Act (“Sherman Act”).


Partial settlements of $134,000,000 have so far been obtained in this action.  https://www.freightforwardcase.com/enLovell Stewart is Court appointed co-lead counsel and Christopher Lovell successfully argued in favor of the motions to approve the settlements, and against substantial parts of the motion to dismiss.  Contact Gary S. Jacobson, Esq. (GSJacobson@lshllp.com) or Benjamin M. Jaccarino, Esq. (BJaccarino@lshllp.com).

In re Term Commodities Cotton Futures Litig., 12-cv-5126 (ALC) (KNF) (S.D.N.Y.)–On December 20, 2013, the Honorable Andrew L. Carter, Jr. issued a fifty-three page Memorandum and Order denying Defendants’ motion to dismiss Plaintiffs’ class action claims alleging manipulation and aiding and abetting manipulation in violation of the Commodity Exchange Act, 7 U.S.C. §1 et seq. (“CEA”) and price fixing and monopoly in violation of Sections 1 and 2 of the Sherman Act. In denying the motions, the Court found that Plaintiffs plausibly alleged that Defendants, who are by far the largest cotton merchant operation in the United States, intended to manipulate the prices of cotton futures contracts and cotton on-call contracts between March 30 and July 7, 2011.

Lovell Stewart is sole lead counsel for the Class in this action, and Christopher Lovell successfully argued against the motion to dismiss the foregoing claims. Contact Christopher M. McGrath, Esq. (CMcGrath@lshllp.com) or Amanda N. Miller, Esq. (AMiller@lshllp.com).

Hershey, et al, v. Pacific Investment Management Company LLC, 05-cv-04681, (N.D. Ill)– On December 17, 2013, The Honorable Ronald Guzman ordered a second and potentially final distribution of the net settlement funds. During the hearing held on December 17, 2013, The Honorable Ronald Guzman stated that the approximately 42% recovery obtained by class members was “close to a record.” Lovell Stewart acted as sole lead counsel for the class and obtained a $118,750,000 settlement. For more information, please visit the settlement website at http://www.pimcocommoditieslitigation.com Contact Chris McGrath(CMGrath@lshllp.com).

In re Dairy Farmers of America, Inc. Cheese Antitrust Litig., 09-cv-03690, (N.D. Ill.)–On November 15, 2013, the Honorable Robert M. Dow, Jr. appointed Lovell Stewart as sole lead counsel for the Direct Purchaser Plaintiffs in this action alleging manipulation and price fixing of Class III milk futures contracts, and physical milk and cheese prices. Judge Dow stated in his order that “Lovell Stewart’s documented experience in these types of cases, as well as its demonstrated capacity and leading role in this litigation over the past four years, puts it in the best position to continue to fairly and adequately represent the interests of Direct Purchaser Plaintiffs as lead counsel.” Contact Christopher Mooney (CMooney@lshllp.com).

In re Crude Oil Commodity Futures Litig., 11-cv-03600 (S.D.N.Y.)–On October 25, 2013, the Honorable William H. Pauley III overruled objections by twenty-four non-parties to the production of documents reflecting physical crude oil trading in this class action alleging manipulation of crude oil and crude oil futures contract prices between January 1 and May 15, 2008.  The Court had earlier denied the Defendants’ motions to dismiss these class action claims. Lovell Stewart is Court appointed co-lead counsel, and Christopher Lovell successfully argued against the earlier motions to dismiss and in favor of the motion to compel production.  Contact Ian T. Stoll, Esq. (IStoll@lshllp.com)

In re: Cathode Ray Tube (CRT) Antitrust Litigation, 07-cv-5944 (N.D. Cal.)–On September 19, 2013, the Honorable Samuel Conti of the Northern District of California granted the Indirect Purchaser Plaintiffs’ motion for class certification pursuant to Federal Rules of Civil Procedure Rule 23. Contact Keith Essenmacher, Esq. (kessenmacher@lshllp.com)

In re: Potash Antitrust Litigation, 08-cv-6910–On June 12, 2013, the Honorable Ruben Castillo granted final approval of the settlements of all claims in this price fixing class action alleging a conspiracy to fix prices of potash. See http://www.potashindirectsettlement.com.   Lovell Stewart is co-lead counsel. Contact Craig Essenmacher, Esq. (CEssenmacher@lshllp.com)


In re Libor Based Financial Instruments Antitrust Litigation No. 1:11-MD-2262 (NRB)–On March 29, 2013, the Honorable Naomi Reice Buchwald denied in part and granted in part the Defendants motions to dismiss the claims of the Exchange Based Plaintiffs that Defendants manipulated and fixed the prices of LIBOR and Eurodollar futures contracts.  Lovell Stewart is Co-Lead counsel for the Exchange Based Plaintiffs and Christopher Lovell made most of the oral argument for such Plaintiffs against the motion to dismiss. Contact Jody Krisiloff, Esq. (JKrisiloff@lshllp.com)

Anwar, et al. v. Fairfield Greenwich Limited, et al., 09-cv-0118–On March 22, 2013 the Honorable Victor Marrero approved a partial settlement as to one group of defendants, in the aggregate amount of $80,250,000, of claims alleging that Bernard Madoff manipulated reports of financial results in respect of Fairfield Greenwich securities.  Lovell Stewart is Court appointed co-lead counsel. Contact Victor Stewart, Esq. (VEStewart@lshllp.com) or Fred Isquith, Esq. (FIsquith@lshllp.com)