Pimco Treasury Contract Manipulation

Summary of Case and Settlement:

In Kohen v. Pacific Investment Management Co. LLC, No. 05-CV-4681 (N.D. Ill.), Cafferty Clobes Meriwether & Sprengel LLP (“CCMS”) served as class counsel on behalf of investors in Chicago Board of Trade 10-year treasury note futures contracts. The case alleged that PIMCO illicitly obtained an unprecedented dominant long position in CBOT 10-year treasury note futures contracts in violation of the Commodity Exchange Act. Working in conjunction with the Court-appointed Lead Counsel, CCMS’s efforts led to an extraordinary recovery of $118.75 million on behalf of the class. The Court entered an Order granting final approval to the Settlement on May 2, 2011.

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