Legal Titans in the Ring
The plaintiff team included heavyweights from:
Quinn Emanuel Urquhart & Sullivan LLP
Cohen Milstein Sellers & Toll PLLC
Susman Godfrey LLP
Jacobs Burns Orlove & Hernandez
Labaton Keller Sucharow LLP
Defending the banks were legal powerhouses like:
Shearman & Sterling LLP
Paul Weiss Rifkind Wharton & Garrison LLP
Latham & Watkins LLP
Covington & Burling LLP
Goodwin Procter LLP
Jones Day
Cravath Swaine & Moore LLP
Sullivan & Cromwell LLP
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.
