Sumitomo Copper Litigation

Summary of Case and Settlement:

Case No. 96 Civ. 4584(MP) (S.D.N.Y.). Class action arising out of manipulation of the world copper market. On October 7, 1999, the court approved settlements aggregating $134,600,000. See 189 F.R.D. 274 (S.D.N.Y. 1999). In awarding attorneys’ fees, Judge Milton Pollack noted that it was “the largest class action recovery in the 75 plus year history of the Commodity Exchange Act”. 74 F. Supp. 2d 393 (S.D.N.Y. Nov. 15, 1999). Additional reported opinions: 995 F. Supp. 451 (S.D.N.Y. 1998); 182 F.R.D. 85 (S.D.N.Y. 1998).

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