usdliboreurodollarsettlements.com

What It Is

usdliboreurodollarsettlements.com is the official settlement administration website for the USD LIBOR (London Interbank Offered Rate) manipulation antitrust class action litigation (MDL No. 2262). The site is maintained by A.B. Data, Ltd., the settlement administrator appointed by class counsel, and is overseen by the U.S. District Court for the Southern District of New York. The case centers on allegations that several major banks conspired to manipulate USD LIBOR between 2003 and 2011, artificially distorting the prices of Eurodollar futures and options. The site currently focuses on the final $3.45 million settlement reached with the remaining defendants, following earlier settlements totaling $187 million that have already been approved by the court.

Core Features

The site’s main functions are tied to the legal process for the class action settlement:

1. Claim Submission: Eligible class members—individuals or entities that traded Eurodollar futures/options on CME and other exchanges between January 1, 2003 and May 31, 2011—can submit proof of claim by mail or electronically.
2. Access to Legal Documents: Key PDF documents are available for download, including settlement notices, court filings, and the plan of allocation.
3. Institutional Electronic Filing: A dedicated institutional e-filing channel is provided for commodity brokers and other nominees, making it easier to process client claims in bulk.
4. Rights Election Process: The site provides clear instructions and deadlines for class members who wish to opt out of the settlement or object to it.

Pricing and Fees

For claimants, filing a claim is free. However, the settlement fund will not be distributed to claimants in full. In line with standard legal practice, case administration expenses, plaintiffs’ attorneys’ fees, and litigation costs will be deducted from the settlement fund before distribution. The remaining amount will then be paid out pro rata to eligible claimants according to the court-approved plan of allocation.

Pros and Cons

Pros: As the official court-authorized channel, the information is authoritative and reliable; electronic submission is supported, making the claims process more convenient; users who already submitted valid claims in previous settlements generally do not need to file again, simplifying the process.
Cons: The site contains a large amount of legal and financial terminology, making it difficult for ordinary investors to understand; legal deadlines are extremely strict—such as the August 15, 2024 opt-out/objection deadline and the October 21 claim deadline—and missing them may result in loss of rights; after various fees and costs are deducted, the actual payout may be significantly lower than the headline settlement amount.

Who It’s For

This site is strictly intended for investors, financial institutions, or commodity brokers that traded Eurodollar futures and options during the relevant period from 2003 to 2011. Anyone who does not meet these trading criteria has no practical connection to the site.

Access from China

The site is hosted in the United States and can be accessed directly from China without a proxy. However, because it involves complex U.S. financial law and is entirely in English, it may be difficult for ordinary users in China to complete the claims process independently without professional legal and financial assistance.