New York Southern District Court, No. 1:19-cv-01704
Docket Entry 253 filed on 09/03/2019 (11 months ago)
OPINION AND ORDER: re: 220 JOINT MOTION to Dismiss filed by Barclays Capital Inc., Nomura Securities International, Inc., HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., Citigroup Global Markets Inc., SG Americas Securities, LLC, Goldman Sachs & Co. LLC, BNP Paribas Securities Corp., TD Securities (USA) LLC, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, UBS Securities LLC, First Tennessee Bank, N.A., Cantor Fitzgerald & Co., FTN Financial Securities Corp. For the foregoing reasons, the Court finds, based on the direct evidence of price-fixing activity, as supplemented by the statistical evidence, that plaintiffs have adequately pleaded an antitrust conspiracy against Deutsche Bank Securities Inc., BNP Paribas Securities Corp., Morgan Stanley & Co., Goldman Sachs & Co., and Merrill Lynch, Pierce, Fenner & Smith Inc. The motion to dismiss is therefore denied as to those defendants. The Court further finds that plaintiffs have not adequately pleaded a claim against the remaining defendants, i.e. Barclays Capital Inc.; Citigroup Global Markets Inc.; Credit Suisse Securities (USA) LL; First Tennessee Bank, N.A. and FTN Financial Securities Corp.; UBS Securities LLC; J.P. Morgan Securities LLC; HSBC Securities (USA) Inc.; Nomura Securities International, Inc.; TD Securities (USA) LLC; Cantor Fitzgerald & Co.; and SG Americas Securities, LLC. The motion to dismiss is therefore granted as to those defendants. However, because the Court does not find that amendment would be futile, leave to amend is granted as to the dismissed defendants. Any such amended complaint must be filed by September 10, 2019. Any non-Chatroom Defendant named in the amended complaint may then renew its motion to dismiss- in a single joint filing by all defendants concerned, not to exceed 25 pages - by September 17. Plaintiffs may respond by September 23. No reply papers will be permitted, but the Court will hear oral argument on September 27 at 2:00pm. The Court will consider all arguments previously raised to be incorporated by reference in the new motions; the renewed motions should focus exclusively on the new allegations. SO ORDERED., ( Amended Pleadings due by 9/10/2019., Motions due by 9/17/2019., Responses due by 9/23/2019, Oral Argument set for 9/27/2019 at 02:00 PM before Judge Jed S. Rakoff.) (Signed by Judge Jed S. Rakoff on 8/29/2019) (ama) (Entered: 09/03/2019)
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