Legal Titans in the Ring
The plaintiff team included heavyweights from:
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Quinn Emanuel Urquhart & Sullivan LLP
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Cohen Milstein Sellers & Toll PLLC
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Susman Godfrey LLP
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Jacobs Burns Orlove & Hernandez
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Labaton Keller Sucharow LLP
Defending the banks were legal powerhouses like:
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Shearman & Sterling LLP
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Paul Weiss Rifkind Wharton & Garrison LLP
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Latham & Watkins LLP
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Covington & Burling LLP
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Goodwin Procter LLP
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Jones Day
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Cravath Swaine & Moore LLP
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Sullivan & Cromwell LLP
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Gibson Dunn & Crutcher LLP, among others.
The Road Ahead: Antitrust, Transparency, and Accountability
Although the plaintiffs’ dream of certifying a class evaporated, the litigation still inflicted a costly blow on Wall Street’s opaque trading practices, sending a signal that collusion—whether proven across the board or settled in the shadows—carries a price.
The $35.5 million fee award to Urquhart and Cohen Milstein may mark the end of this legal saga, but for market reform advocates, it’s also a milestone in the ongoing struggle for transparency in financial markets.
