SSA BondACTIVECLAIMS OPEN

Mancinelli et al v. Bank of America Corporation et al

The law firms of CFM Lawyers LLP, Siskinds LLP, Sotos LLP and Koskie Minsky LLP are counsel in a class action against financial institutions (the “Defendants”) who conspired to fix, raise, decrease, maintain, stabilize, control or enhance unreasonably the price of supranational, sub-sovereign and agency bonds (“SSA bonds”).

Beginning at least as early as 2005 and continuing through to December 31, 2015, the Defendants conspired with each other to fix, raise, decrease, maintain, stabilize, control or enhance unreasonably prices of SSA bonds. This was done to enhance the profits of some or all of the Defendants at the expense of the Class Members.

Class Members: You are included in this lawsuit if you are a Person in Canada who, between January 1, 2005 and December 31, 2015, entered either directly or indirectly through an intermediary, and/or purchased or otherwise participated in an investment or equity fund, mutual fund, hedge fund, pension fund or any other investment vehicle that entered into an SSA Bond Transaction.

Contact about this case:

CONTACT

overview Updates documents

Overview

CourtOntario Superior Court of Justice

Date FiledDecember 1, 2017

CO-COUNSEL Koskie Minsky LLP
Sotos LLP
Siskinds LLP

Claims Process Opened

The action has settled and a claims process is underway. Claim forms must be submitted by July 25, 2025.

In accordance with the terms of the Court approved Administration Protocol, only Settlement Class members who can show SSA Bond Transactions of at least CAD $10 million between January 1, 2005 and December 31, 2015 will be eligible to submit a claim.

“SSA Bond Transaction” means any purchase, sale, trade, assignment, novation, unwind, termination, or other exercise of rights or options with respect to any SSA Bond.
“SSA Bond” means supranational, sovereign, sub-sovereign, governmental, quasi- governmental, and agency bonds or debt instruments regardless of the structure, currency, or credit quality.

For further information and/or to submit a claim, visit www.ssabondssettlement.ca. If you have any questions please email [email protected] or call the claims administrator at 514-577-5973.

Settlements

Settlements have been achieved with all defendants, totaling approximately $6.5 million:

Bank of America Corporation, Bank of America, N.A., Bank of America Canada, Bank of America, National Association, Bank of America Merrill Lynch International Limited, Merrill Lynch International, Merrill Lynch, Pierce, Fenner & Smith Inc., Merrill Lynch Canada Inc., Merrill Lynch International Services Limited, Merrill Lynch Financial Assets Inc., Merrill Lynch Benefits Ltd. (collectively “Bank of America”) (CDN$750,000.00)
HSBC Holdings PLC, HSBC Bank USA, N.A., HSBC Securities (USA) Inc., HSBC Bank PLC, HSBC North America Holdings Inc., HSBC Bank Canada and HSBC USA, Inc. (collectively “HSBC”) (CDN$1,323,529.41)
Deutsche Bank AG (“Deutsche Bank”) (USD$1,600,500);
Toronto-Dominion Bank Group, TD Bank, N.A., TD Securities Limited, TD Group (US) Holdings, LLC, and TD Bank USA, N.A. (collectively “TD”) (CDN$250,000);
Nomura International plc (“Nomura”) (CDN$350,000);
Credit Suisse Group AG, Credit Suisse AG, Credit Suisse Securities (Europe) Ltd, Credit Suisse International, Credit Suisse Securities (Canada), Inc, and Credit Suisse Securities (USA) LLC (collectively “Credit Suisse”) (CDN$500,000);
Royal Bank of Canada, RBC Europe Limited, and RBC Capital Markets LLC (collectively “RBC”) (CDN$250,000);
Barclays Capital Canada Inc., Barclays Bank PLC, Barclays Capital Inc., Barclays Execution Services Limited, and Barclays Capital Securities Limited (collectively “Barclays”) (CDN$150,000);
BNP Paribas S.A., BNP Paribas Group, BNP Paribas (Canada), BNP Paribas North America Inc., and BNP Paribas (collectively “BNP Paribas”) (CDN$150,000);
Citigroup Inc, Citibank N.A, Citigroup Global Markets Inc, Citigroup Global Markets Limited, Citibank Canada, and Citigroup Global Markets Canada Inc. (collectively “Citi”) (CDN$200,000); and
Crédit Agricole S.A., Crédit Agricole Corporate and Investment Bank, and Crédit Agricole Corporate and Investment Bank (Canada Branch) (collectively “Crédit Agricole”) (CDN$400,000).

The settlements have been approved by the Federal Court of Canada.

The class action has been resolved in its entirety.

Notices and settlement agreements can be viewed in Documents.

For more information please contact Betty Lee at 604-689-7555 or by email at [email protected].

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