Forty plaintiff states reached a $68 million settlement with UBS for fraudulent conduct involving interest rate manipulation that had a significant impact on consumers and financial markets around the world. UBS’ fraudulent conduct involved the manipulation of LIBOR (the London Interbank Offered Rate). LIBOR is a benchmark interest rate that affects financial instruments worth trillions…
As part of a negotiated joint consent decree with the U.S. Department of Justice (DOJ), the State of Florida sought to enjoin the merger between Barnett Banks, Inc. (Barnett) and First Florida Bank, Inc. (First Florida), alleging that the proposed merger would result in less competition in the financial institution industry.
As part of a negotiated joint consent decree with the U.S. Department of Justice (DOJ), the State of Florida sought to enjoin the merger between NationsBank, Inc. (NationsBank) and Barnett Bank, Inc. (Barnett), alleging that the merger would substantially impair competition in the banking industry.
U.S. Bancorp acquired all assets and branch offices of West One Bancorp. The settlement agreement required that U.S. Bancorp divest within 180 days designated branch offices including their assets and loans.
Bank America, the owner of Seattle First National Bank, the largest bank in Washington acquired Security Pacific the second largest bank in Washington. Settlement agreement required divesture of specific Security Pacific including branch offices, assets and loans
Merger of two largest banks in Vermont approved after divestitures.
Joint investigation with Department of Justice of merger of two banks. Merger approved with divesitutres.
Joint investigaiton and agreement resolving competitive concners in merger of two large California banks.
Plaintiff state reached agreement that allowed merger of two banks with branch divestitures and commitment to community loans.