Kehoe Law Group Announces Partial $20,700,000 Settlement in Mexican Government Bond Litigation on Behalf of Southeastern Pennsylvania Transportation Authority Pension Plan and Class Members

Jun 1, 2020 | News 2020

Kehoe Law Firm is pleased to announce that a partial settlement has been reached with two defendants in the Mexican Government Bonds antitrust litigation. The settlements total $20,700,000 and were reached with Barclays PLC (and related entities) and JPMorgan Chase & Co. (and related entities), on behalf of our client, Southeastern Pennsylvania Transportation Authority Pension Plan (“SEPTA”), and additional plaintiffs.​

The settlement addresses allegations that the settling defendants, and others, conspired to fix the prices for Mexican Government Bonds issued by the Mexican government through the Bank of Mexico (“Banxico”). As alleged in the complaint, each defendant transacted in price fixed MGBs at artificial prices with uninformed market participants like Plaintiffs and the Class. Defendants allegedly did so through several interrelated means of manipulation.​

SEPTA and plaintiffs’ lead counsel engaged in separate negotiations with Barclays and JPMorgan to reach negotiated resolutions of the claims against them. The Settlements allow SEPTA, Barclays, and JPMorgan to avoid the risks and costs of lengthy litigation and the uncertainty of pre-trial proceedings, a trial, and appeals, and, if approved, would permit eligible settlement class members, who file timely and valid claim forms, to receive compensation rather than risk ultimately receiving nothing.​

SEPTA and plaintiffs’ lead counsel believe the $20,700,000 partial settlements are in the best interest of all settlement class members. Notably, the settlement does not include many other defendants that have chosen to not participate at this time. These defendants include entities related to Bank of America, Citibank, Deutsche Bank, HSBC, and others.​

For more information about the case and the partial settlement, see a website maintained by the Mexican Government Bonds at: https://www.mgbantitrustsettlement.com/ 

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at [email protected] or call (215) 792-6676.

Collection, Use And/Or Dissemination Of Biometric Information

Jun 1, 2020 | Data Breach

Certain States Have Passed, Expanded or Proposed Legislation To Regulate The Collection, Use, And Dissemination Of Biometric Information – Illinois Provides A Private Right Of Action To Recover Damages For Biometric Privacy Violations

The Illinois Biometric Information Privacy Act (“BIPA”) protects biometric identifiers, otherwise known as biometrics or biometric information.  BIPA defines biometric identifier as “a retina or iris scan, fingerprint, voiceprint, or scan of hand or face geometry.” 

According to BIPA:

The use of biometrics is growing in the business and security screening sectors and appears to promise streamlined financial transactions and security screenings.

. . .

Biometrics are unlike other unique identifiers that are used to access finances or other sensitive information. For example, social security numbers, when compromised, can be changed. Biometrics, however, are biologically unique to the individual; therefore, once compromised, the individual has no recourse, is at heightened risk for identity theft, and is likely to withdraw from biometric-facilitated transactions.”

An overwhelming majority of members of the public are weary of the use of biometrics when such information is tied to finances and other personal information.

BIPA prohibits a private entity from collecting, capturing, purchasing, receiving through trade, or otherwise obtaining a person’s or a customer’s biometric identifier or biometric information, unless the private entity (1) informs the subject or the subject’s legally authorized representative in writing that a biometric identifier or biometric information is being collected or stored; (2) informs the subject or the subject’s legally authorized representative in writing of the specific purpose and length of term for which a biometric identifier or biometric information is being collected, stored, and used; and (3) receives a written release executed by the subject of the biometric identifier or biometric information or the subject’s legally authorized representative.

BIPA also prohibits a private entity which possesses a biometric identifier or biometric information from disclosing, redisclosing, or otherwise disseminating a person’s or a customer’s biometric identifier or biometric information unless (1) the subject of the biometric identifier or biometric information or the subject’s legally authorized representative consents to the disclosure or redisclosure; (2) the disclosure or redisclosure completes a financial transaction requested or authorized by the subject of the biometric identifier or the biometric information or the subject’s legally authorized representative; (3) the disclosure or redisclosure is required by State or federal law or municipal ordinance; or (4) the disclosure is required pursuant to a valid warrant or subpoena issued by a court of competent jurisdiction.

BIPA also mandates that a private entity that possesses a biometric identifier or biometric information shall:
(1) store, transmit, and protect from disclosure all biometric identifiers and biometric information using the reasonable standard of care within the private entity’s industry; and (2) store, transmit, and protect from disclosure all biometric identifiers and biometric information in a manner that is the same as or more protective than the manner in which the private entity stores, transmits, and protects other confidential and sensitive information.

Do You Believe Your Biometric Information May Have Been Illegally Collected, Stored, Used, Disclosed, Transmitted Or Disseminated?

Illinois’ Biometric Information Privacy Act provides a private right of action in an Illinois state circuit court, or as a supplemental claim in federal district court, against an offending party.  Among other relief, BIPA provides for liquidated damages of $1,000 or actual damages, whichever is greater, against a private entity that negligently violates a provision of BIPA, as well as liquidated damages of $5,000 or actual damages, whichever is greater, against a private entity that intentionally or recklessly violates a provision of BIPA.

Source of BIPA-related information: ILGA.gov, 740 ILCS 14/1, et seq., accessed 06.01.2020; all emphasis added.

If you believe your biometric data has been illegally collected, stored, used, disclosed, transmitted or disseminated by a private entity, please contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss potential legal claims.
Kehoe Law Firm, P.C. 

 

Coty, Inc. Investors Who Have Losses Greater Than $100K

Jun 1, 2020 | Securities Class Action Archive

Coty, Inc. Investors Who Have Suffered Losses Greater Than $100K Encouraged To Contact Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is investigating potential securities law violations on behalf of investors of Coty, Inc. (“Coty” or the “Company”) (NYSE: COTY) to determine whether the Company may have issued materially misleading business information to the investing public.

On May 29, 2020, Bloomberg reported that “Coty Inc. tumbled Friday after Forbes reported that Kylie Jenner allegedly provided the magazine with misleading financial information about her cosmetics brand.”  Further, Bloomberg reported that “[s]hares of Coty, which acquired a majority stake in Kylie Cosmetics last year, dropped 13% to close at $3.63, extending its 2020 decline to 68%.”

Coty investors who purchased, or otherwise acquired, Coty common stock and suffered losses greater than $100K are encouraged to contact Kehoe Law Firm, P.C., Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], to discuss the securities investigation or potential legal claims.

Kehoe Law Firm, P.C.