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  • Writer's pictureMartingala Risk

Martingale Risk is Preparing a Group Action for European Government Bonds (EGBs) to be filed in the Netherlands

Martingale Risk is originating a group action in the Netherlands on behalf of institutional investors who traded European Government Bonds (EGBs).

On May 20th, 2021, the European Commission (EC) sanctioned a panel of banks (Bank of America, Nomura, Natixis, Natwest/RBS, UBS, UniCredit and Portigon) for having infringed Article 101(1) of the Treaty on the Functioning of the European Union and Article 53(1) of the Agreement on the European Economic Area. The infringement consisted of agreements between the panel banks who operated as a cartel resulting in a restriction and/or distortion of the competition of the EGBs markets.

The EC sanctioned the above banks for EUR 371 million for having participated in a single and continuous infringement of EU antitrust laws throughout the period Jan. 4th, 2007 - Nov. 28th, 2011. The infringement was caused by their traders having unduly utilized Bloomberg chats to coordinate and deal the EGBs on the primary and secondary markets.

Martingale Risk, as the originator of the proceedings, is preparing to take action on behalf of its clients to recover their investment losses throughout the period Jan. 2007 – Nov. 2011.


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