Plan of Distribution for ISDAfix Manipulation Case

U.S. District Judge Jesse Furman approved the Plan of Distribution for the $408.5 million settlement in the ISDAfix Manipulation case, in which Plaintiffs allege that Defendants manipulated the ISDAfix benchmark rates, which are used in the settlement of a variety of derivative instruments, including cash-settled swaptions and constant maturity swaps. The Plan of Distribution was created by a Compass Lexecon team led by Chris Fiore and Hans-Jürgen Petersen of Compass Lexecon’s New York office, which included Mihir Gokhale, Monica Xie, Diana Turbayne, and Omotoke Paul-Lawal. The team worked closely with Dan Brockett, Jeremy Andersen and Toby Futter of Quinn Emanuel Urquhart & Sullivan, LLP, Julie Kearns and Hal Cunningham of Scott & Scott LLP, and Brian O’Mara and David Mitchell of Robbins Geller Rudman & Dowd LLP. Chris Fiore submitted a written declaration to the court describing the Plan, and also explained the details of the Plan to Judge Furman at the fairness hearing.