LIBOR Over-the-Counter Plaintiffs Win Class Certification of Price-Fixing Claims Against Banks Today, United States District Judge Naomi Reice Buchwald in Manhattan issued LIBOR VII, in which the court granted class certification under Rule 23(b)(3) to a class of plaintiffs who bought over-the-counter instruments that paid interest in terms of the London Interbank Offered Rate (LIBOR) and who allege that LIBOR-setting banks conspired to suppress LIBOR during the 2007-09 financial crisis. View Full Post
Preparing difficult witnesses for trial: Story of me, full interview, and explaining what matters and why In this penultimate installment of my series on preparing difficult witnesses (DWs) for trial, we get to some of the real nitty-gritty: Learning the story of me, doing a full interview, and then explaining what matters and why. As will become clear, the sequence matters — a lot.  View Full Post
Preparing Difficult Witnesses for Trial — Part 2 In Preparing Difficult Witnesses for Trial — Part 1, we looked at the four major types of trial witnesses. We also sketched “some of the more significant ethical considerations that govern your dealings with each category”. We then took “a short and non-exhaustive look at the two major privileges that trial lawyers deal with: the lawyer-client privilege and the lawyer work-product doctrine.” In this post, we’ll cover the necessity for getting really ready and something you may find surprising — the importance of caring. View Full Post
Preparing Difficult Witnesses for Trial — Part 1 For your client to win at trial, the trial lawyer in you must tell a human story, one that moves jurors to decide in your client’s favor. Flesh-and-blood witnesses fill essential roles in the drama. So-so ones will turn the story to mush, and bad ones will allow your friend on the other side to beat you and your client about the head and neck with it. View Full Post
Multiples for Pharma Buyers Pursuing Opt-Out Antitrust Claims Existential threshold The number of companies that can bring treble-damages claims against drug manufacturers for violating federal antitrust law has dwindled. The scarcity has grown so acute that last week it crossed an existential threshold. For the first time ever, a federal judge in Philadelphia ruled that a class of direct pharmaceuticals purchasers did not meet the “numerosity” requirement of Rule 23(a)(1) for class-action treatment.  View Full Post
Dieselgate — Antitrust Edition You will recall that two years ago Volkswagen got in $14.7 billion worth of class action trouble for rigging software in its diesel cars to fake compliance with U.S. emission standards. The We now learn that Volkswagen didn’t act alone. Something rotten in Stuttgart The German weekly news magazine Der Spiegel revealed over the weekend that, starting in 2006, Volkswagen teamed up with its Teutonic rivals BMW and Mercedes-Benz (Daimler) to avoid competing for customers. View Full Post